“There is growing evidence that the various sub segments of the financial services industry are taking a hard look at different aspects of cloud computing,” said Lane F. Cooper, Editorial Director of BizTechReports.
Cloud computing, he notes, provides an excellent opportunity to upgrade technology infrastructures, and reassess the economics of technology management. This is because there are great gains to be made by moving non-core commodity operations to third parties and to introduce much higher levels of internal agility by service-enabling virtualization initiatives.
“Those who move first in an effective and risk-adjusted manner stand to gain a significant competitive advantage in today’s highly volatile market place. However, given the great number of rules, regulations and industry-specific business challenges faced by financial institutions, it is going to be important to carefully explore how to implement cloud strategies effectively,”
The FinCloud Institute will provide a forum for technology implementers to share industry-specific best practices and for technology providers to offer key insights into the new opportunities cloud computing can introduce to the sector. The FinCloud Institute will publish a series of surveys reports, white papers, case studies and articles that focus exclusively on the impact that cloud computing is having on the financial services sector.
“We are going to research the cloud offerings that are emerging to serve this important sector of the economy. Our plan is to provide clear and concise context for executives who lead community banks, commercial banks, securities firms, and insurance companies,” said Cooper.
BizTechReports is an independent research and reporting agency with offices in Washington, DC and Toronto, Canada that analyzes user trends in business technology. Our reports explore the role that technology products and services play in the overall economy and/or in specific vertical industries. To learn more, visit www.BizTechReports.com.
About FinCloud Institute
FinCloud Institute's mission is to provide research-based insights into how Cloud Computing strategies are being implemented by financial institutions. The Institute provides a platform for the entire community of interest to capture best practices, emerging trends, implementation pitfalls so that the full promise of the Cloud (private, public or hybrid) can be fulfilled in the financial services sector. To learn more, vist www.FinCloudInstitute.org.