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November 18, 2009

Private clouds forecast for finance firms

Security a worry, survey reveals

By Vinod

Financial services organisations plan to pitch into private clouds, despite security concerns.

Some 83% of the senior IT execs at 35 financial service firms surveyed by Platform Computing said that private clouds were on their immediate horizon. They planned to invest in grid and high performance computing (HPC) to help realise those plans.

Alongside cloud computing, 43% of respondents also intended to make virtualisation their main infrastructure priority for 2010. The ability of both technologies to reduce costs and increase processing power were key attractions for the firms.

Compared to last year’s survey, worries have shifted away from uncertainty about the definition of cloud computing (29%) and its newness (29%) to concerns over security, which was cited by nearly half the respondents.


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