Cloud in Financial Services – the next generation

UK financial services organisations are rapidly embracing new cloud-enabled technologies to transform the ways they operate and serve their customers, although skills shortages, security barriers, and worries about compliance are standing in the way of the digital transformation of the sector. Although 78 per cent of financial services business have a digital transformation strategy, 64 per cent stated that they lack the skills they need for successful implementation. In addition, well over half (58 per cent) agreed that their cloud security posture needed to be improved and a similar proportion (52 per cent) were not confident in their ability to meet their regulatory obligations. These are the key takeaways from a new research report launched today by the Cloud Industry Forum (CIF) and Aryaka.

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