{"id":1552,"date":"2020-03-03T12:36:28","date_gmt":"2020-03-03T08:36:28","guid":{"rendered":"https:\/\/www.techxmedia.com\/?p=1552"},"modified":"2025-04-18T00:37:06","modified_gmt":"2025-04-17T20:37:06","slug":"financial-companies-hybrid-cloud-security","status":"publish","type":"post","link":"https:\/\/techxmedia.com\/en\/financial-companies-hybrid-cloud-security\/","title":{"rendered":"Financial Companies Embrace Hybrid Cloud for security"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.nutanix.com\/en\">Nutanix<\/a> announced the <a href=\"https:\/\/www.nutanix.com\/go\/enterprise-cloud-index-for-financial-services\">financial services industry findings<\/a> of its second <a href=\"https:\/\/www.nutanix.com\/enterprise-cloud-index\">Enterprise Cloud Index Report<\/a>, measuring financial firms\u2019 plans for adopting private, public and hybrid clouds. The report found the financial sector outpaces all other industries in hybrid <a href=\"https:\/\/techxmedia.com\/tag\/cloud\">cloud<\/a> deployments \u2013 hosting workloads in both private and public cloud \u2013 but trail others in their use of multiple public cloud services.<\/p>\n\n\n\n<p>Most financial services companies must\nadhere to strict regulatory requirements and government mandates. Not\nsurprisingly, 60% of respondents called out security as the single biggest\ninfluence on future cloud strategies. Additionally, because so many\norganizations struggle to migrate workloads between environments, financial\nservices companies have the highest percentage of traditional data centers\n(59%) delivering key applications. Yet, in the face of digital transformation,\nthe sector faces mounting pressure to modernize IT and to make services more\nconvenient for end-users. Together, this explains why nearly 18% of financial\ncompanies have deployed hybrid cloud today, while 51% plan to shift investment\nto hybrid cloud in just three to five years.<\/p>\n\n\n\n<p>Additional findings of this year\u2019s report\ninclude:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Flexibility to move applications as needed is critical. <\/strong>Nearly three-quarters of financial companies surveyed (71%) shared\ntheir plans to move one or more applications running in a public cloud back\non-premises. In the financial services industry, regulatory requirements are\nconstantly evolving, meaning companies must keep pace with changing regulations\nthat govern where these companies can store and manage their data. Respondents\nalso ranked hybrid cloud as the most secure IT operating model (27% of the\ntime) signaling the importance of flexibility, alongside security, in this ever\nchanging environment.<\/li><li><strong>The future of work and digital transformation plays a role in the\nfinancial sectors\u2019 infrastructure decisions. <\/strong>Financial services selected \u201csupport for remote\/branch office users\u201d as\na motivator for cloud decisions nearly 30% of the time, a significantly higher\npercentage than cross-industry averages, pointing to the increasingly remote\nworkplace landscape and the role of digital transformation in customer\nexperience.In the short term,\nrespondents listed lack of adoption stemming from concerns around nascent tools\nfor managing hybrid environments (66%), a lack of hybrid cloud skills (30%) and\na lack of cloud-native development skills (23%).&nbsp; <\/li><li><strong>Security is paramount for compliance and regulation. <\/strong>Data showed that financial companies are running the highest percentage\nof data centers today, with just over 59% of financial companies. Accounting in\npart for this trend is dissatisfaction with public cloud, with only 39% of\nfinancial services companies reporting public cloud services were completely\nmeeting their expectations.<\/li><\/ul>\n\n\n\n<p>\u201cThe financial sector\u2019s digital\ntransformation is aggressively driving datacenter modernization and cloud\nadoption,\u201d said Greg Smith, VP of Product Marketing at Nutanix. \u201cAmbitious, but\nnecessary, plans to shift investment to hybrid clouds clearly demonstrate that\nfinancial companies recognize the obvious benefits. With hybrid cloud\ninfrastructure, financial companies can enjoy application mobility across\nclouds and gain greater control of their IT spend, while remaining confident in\nthe security of their data.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The report found the financial sector outpaces all other industries in hybrid cloud deployments \u2013 hosting workloads in both private and public cloud \u2013 but trail others in their use of multiple public cloud services.<\/p>\n","protected":false},"author":8,"featured_media":1555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9639,9621],"tags":[668,576,443,667],"contributor":[],"class_list":["post-1552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech-emerging-technologies","category-emerging-technologies","tag-cloud_index_report","tag-digital_transformation","tag-finance","tag-hybrid_cloud"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2020\/03\/greg-smith.png","author_info":{"display_name":"Rabab","author_link":"https:\/\/techxmedia.com\/en\/author\/rabab\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/1552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/comments?post=1552"}],"version-history":[{"count":0,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/1552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media\/1555"}],"wp:attachment":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media?parent=1552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/categories?post=1552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/tags?post=1552"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/contributor?post=1552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}