FEATURE : CLOUD MANAGEMENT

A report from Nutanix shows 43 % of financial services companies globally plan to increase their investment in private cloud over the next year . We take a closer look at how they are managing cloud operations and how they plan to run their applications in the future .

multi-cloud computing , has announced the financial services industry findings of its third annual Enterprise Cloud Index Report , measuring organisations ’ plans for adopting private , hybrid and public clouds .

The findings point to a Digital Transformation within the industry , with half of respondents ( 50 %) reporting that COVID-19 caused them to increase their investment in hybrid cloud .

In the industry ’ s five-year outlook , hybrid cloud is the only IT model showing positive growth among financial company respondents and it is expected to increase by 39 % in that time-frame . In addition , 43 % of financial services companies plan to increase their investment in private cloud over the next year , 10 % higher than the global average ( 33 %) – pinpointing that private cloud adoption is crucial to creating a modern hybrid cloud . Other key findings of the report include :

• Security concerns are driving private cloud adoption : Financial services organisations ranked security , privacy and compliance issues as the most concerning when running applications within public cloud solutions ( 62 %). Respondents were less concerned with public cloud capacity ( 30 %), showing that while public cloud has the capabilities to support IT infrastructures , the security of sensitive data is non-negotiable and organisations are looking for alternative solutions .

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