The financial services industry is, after much wringing of hands about data security, moving computing operations to the cloud to save money, improve operations, increase agility, gain access to large-scale resources and improve security.
Given the sensitive nature of client data, financial firms have been slow to adopt the public cloud, but resisting cloud deployment based on security fears is becoming more of a thing of the past. IT people tended to overestimate the security measures deployed within their own walls as well as their ability to contain customer-data breaches. A recent report on the state of the security industry report showed that one-quarter of all data breaches take organizations weeks, or even months, to contain. By contrast, large cloud providers have security teams, systems and tools constantly monitoring operations.
It’s the business of cloud providers to supply computing power that is secure both on the perimeter and inside the data center. So while an individual machine may be running month-end banking statements in the afternoon and seismic modeling for an oil and gas exploration late at night, the data is securely ensconced behind internal firewalls that protect each virtual machine. What’s more, cloud provider infrastructures that require certification are subject to regular audits from consulting firms that specialize in IT security.
The very complexity of cloud operations also provides a layer of security. Even if cyber criminals know the specific cloud provider an institution uses, they’d still have to find the right data center and gain access. Even then, there’s still substantial internal security left to breach. Businesses that store information on their own servers offer a comparatively easier target than those that use the cloud.
Read More: http://www.forbes.com/sites/tomgroenfeldt/2015/12/01/security-is-better-with-cloud-providers/
Given the sensitive nature of client data, financial firms have been slow to adopt the public cloud, but resisting cloud deployment based on security fears is becoming more of a thing of the past. IT people tended to overestimate the security measures deployed within their own walls as well as their ability to contain customer-data breaches. A recent report on the state of the security industry report showed that one-quarter of all data breaches take organizations weeks, or even months, to contain. By contrast, large cloud providers have security teams, systems and tools constantly monitoring operations.
It’s the business of cloud providers to supply computing power that is secure both on the perimeter and inside the data center. So while an individual machine may be running month-end banking statements in the afternoon and seismic modeling for an oil and gas exploration late at night, the data is securely ensconced behind internal firewalls that protect each virtual machine. What’s more, cloud provider infrastructures that require certification are subject to regular audits from consulting firms that specialize in IT security.
The very complexity of cloud operations also provides a layer of security. Even if cyber criminals know the specific cloud provider an institution uses, they’d still have to find the right data center and gain access. Even then, there’s still substantial internal security left to breach. Businesses that store information on their own servers offer a comparatively easier target than those that use the cloud.
Read More: http://www.forbes.com/sites/tomgroenfeldt/2015/12/01/security-is-better-with-cloud-providers/
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