MEA financial institutions wary on cloud

COMPUTING

|
Image: By BiztechAfrica
MEA financial institutions wary on cloud

Over 80% of high-level IT decision makers in the financial sector in the Middle East and Africa (MEA) acknowledge that cloud computing offers significant tangible benefits, while close to 90% of them indicate that they are familiar with the concept, according to a survey conducted by market research company IDC.

At the same time, however, approximately 50% of survey respondents believe that cloud computing is difficult to implement.

Beyond a few early adopters, the IT departments of MEA financial institutions are at present exploring, or will soon be evaluating, how their organisations can benefit from cloud computing.

Some 79% of respondents say that their organisations are currently using or planning to deploy a private, public or hybrid cloud environment, while 20% indicate they have no interest in deploying any cloud environment.

"Although cloud computing has been considered by many financial institutions in the MEA region, factors such as security concerns, compliance standards, and an overall lack of knowledge have slowed adoption levels," says Bijen Ramdas, senior research analyst, IDC Financial Insights Middle East, Turkey, and Africa.

"Due to the sensitivity of the data that financial institutions possess, there is a definite bias toward private and hybrid cloud technologies. Cloud adoption will accelerate in the coming years, as many financial institutions already say that cloud technology is part of their short-to-medium-term plans."

IDC believes that MEA financial institutions are likely to be reluctant to invest in cloud solutions until they have greater knowledge about and confidence in the technology. Security concerns are, at present, the greatest deterrent to adoption. As financial institutions are a very important custodian of citizens' information, inadequate security could lead to data leakage and result in potentially grave liability consequences.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE COMPUTING NEWS

Benin collection drive nets over 20 tons of e-waste

An e-waste collection drive coordinated by MTN and Ericsson in Benin has collected over 20 tons of e-waste. Read More

ASUS steps up Southern African service

ASUS has appointed Ensure Services as its authorised service partner, building on the company’s strategy to enhance after-sales service levels in Southern Africa.  Read More

Huawei: data centre investment will boost Nigerian connectivity

An increase in data centre investment would enhance connectivity in Nigeria and other developing countries, Huawei Technologies Company Limited has said. Read More

Africa could lead in moves to hybrid enterprise

With less legacy infrastructure to hold it back and rapid moves to mobile and cloud, African enterprise could become a leader in moves to the hybrid enterprise, says Karl Campbell, Regional Vice President for the UK and South Africa at Riverbed Technology. Read More

How technology eased Buhari’s victory: Zinox chief

The Chairman of the, Zinox Group, Chief Leo Stan Ekeh, says the deployment of technology in Nigeria’s general elections assisted the winner of the presidential polls, Gen Muhammadu Buhari (retd) to emerge ahead of his closest opponent, President Goodluck Jonathan. Read More

Youth employability the focus for Microsoft’s new Country Manager in Ghana

The newly appointed Country Manager for Microsoft in Ghana, Derek Appiah, says he sees significant potential in Ghana’s young population and is excited that Microsoft has a presence in the country to help unlock this potential. Read More

Samsung opens Digital Village in Nigeria

Samsung Electronics West Africa has launched its first Digital Village in the Oban community located in the Akamkpa Local Government Area of Cross River State.  Read More

Phase 3 Telecom urges gender parity in ICT

Phase3 Telecom has called for gender parity in the ICT sector, arguing that it is only by doing so that development could come to the African continent. Read More

Samsung launches Digital Village in Ghana

Samsung has partnered with UNESCO and the Government of Ghana to ensure accessibility of solar-powered technologies to the people of the Volo community. Read More

Stanbic Botswana launches Instant Money cash transfer

Stanbic Bank Botswana has launched a new service offering in the form of cardless ‘Instant Money.’ Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

The transformative power of affordable smartphones and unlimited data in GhanaThe transformative power of affordable smartphones and unlimited data in Ghana

Smartphones are helping transform their lives of ordinary people in Ghana, Reports Nana Appiah Acquaye.

IN DEPTH

NIMC infrastructure must be managed by credible people: NIMC chiefNIMC infrastructure must be managed by credible people: NIMC chief

NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.