Financial Services Set for Triple Hybrid Multicloud Surge

Nutanix Study Forecasts Triple Increase in Hybrid Multicloud Adoption Across Financial Services Sector

In a recent report by Nutanix (NASDAQ: NTNX), a leading hybrid multicloud computing provider, findings from their sixth annual Financial Services Enterprise Cloud Index (ECI) survey reveal a projected threefold surge in hybrid multicloud adoption within the financial services industry over the next three years. This shift is driven by escalating ransomware threats and the rapid integration of AI technologies.

According to the Financial Services ECI report, which assesses cloud adoption trends in finance and insurance, current adoption rates of hybrid multicloud solutions remain stable year-over-year. However, respondents anticipate a significant increase, positioning hybrid multicloud as the predominant IT model in the sector.

Key drivers influencing IT strategy include enhancing data security, fortifying defenses against ransomware attacks, and leveraging AI for improved decision-making and customer engagement. Nearly all respondents (99%) reported experiencing ransomware incidents in the past three years, underscoring the urgency for robust cybersecurity measures.

The appeal of hybrid multicloud architecture lies in its capability to offer diverse cost-effective solutions, streamline compliance, and optimize IT expenditures while enhancing application performance and security measures. This strategic deployment addresses specific operational and regulatory requirements, including the upcoming EU Digital Operational Resilience Act (DORA).

Lee Caswell, SVP of Product & Solutions Marketing at Nutanix, emphasized, “The surge in hybrid multicloud adoption reflects heightened cybersecurity risks and regulatory demands facing financial services. It underscores the industry’s proactive stance towards bolstering data protection and disaster recovery capabilities.”

The survey, conducted by Vanson Bourne, polled 1,500 global IT and DevOps decision-makers in December 2023, spanning various industries and regions. Key findings highlight a growing prioritization of cloud computing, AI investments, and ransomware prevention strategies among financial services enterprises globally.