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Up in the Cloud
Globally, banks are taking a cautious but noticeable move toward Cloud IT infrastructure. Generally, Cloud infrastructure can improve operational efficiency, through increased quality control and disaster recovery capabilities. However, moving to the Cloud can also create compliance and security risks, and blur the lines in terms of data ownership on a department-by-department basis.
Nevertheless, a report by Appinventiv found that the main reason for banks’ shift to the cloud is simplified IT infrastructure. Of course, Cloud systems can go a long way in providing a data management facility with central control, ending reliance on fragmented, splintered data systems across different departments.