Cloud security for financial organizations

Abstract

Financial institutions are particularly exposed to cyber risk due to their reliance on critical infrastructures and their dependence on highly interconnected networks. By 2016, more than 60 % of transactions in the banking sector worldwide carried out on the basis of cloud technologies, according to Gartner . Banks are among the most advanced IT users, so they are still at the forefront in terms of developing private clouds. Cloud infrastructure technologies provide a model for enabling convenient, on-demand network access to a shared pool of configurable computing resources. The cloud requires few provisions while delivering rapid results.