BOSTON – Cloud computing is gaining acceptance by capital markets firms, despite lingering concerns about security and reliability, according to the results of a new study by Boston-based Aite Group, an independent research and advisory firm that focuses on how business, technology and regulatory issues impact the financial services industry.
“Cloud computing is no longer a theoretical discussion among capital markets technology practitioners. Tightening margins and spiraling regulatory costs have driven cloud computing adoption over the last 18 months,” according to a July 2 announcement of the findings by Aite Group Managing Partner Sang Lee and Senior Analyst Virginie O’Shea.
“Though concerns remain, firms have opened up to the possibility of using the cloud to maintain commoditized operations,” according to the Aite announcement.
The study is based on telephone interviews done earlier this year with 21 leading market participants from firms that have committed to leveraging cloud computing or are evaluation its merits.