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

BNPC releases Global Information Technology Report 2015

The Botswana National Productivity Centre (BNPC) in partnership with Ministry of Transport and Communications and its related public institutions, has released the 2015 Global Information Technology Report (GITR).  Read More

Africa’s competitive business environment spurs IT services adoption

Emerging African economies are increasingly embracing IT services solutions in a bid to support their growth initiatives, according to the latest insights released by International Data Corporation (IDC). Read More

DevOps: The worst-kept secret to winning in the application economy

CA reveals how DevOps is the key to winning in the brave new world of the application economy.   Read More

Tech in South Sudan “born with teeth” – analyst

South Sudan was “born with teeth” as far as its ICT development is concerned, according to an analyst, with the country having made positive steps even pre-independence. Read More

Innovative BAC Stand gets an A++ at BTE Fair 2015

BAC Executive Director Mike Lesolle Botswana Accountancy College (BAC) which recently unveiled two new industry technology courses received top accolades among several other international awards for their exhibition stand at the Botswana Tertiary Education Conference and Fair 2015 (BTEF).  Read More

@iLabAfrica to stage kids’ ICT boot camp

@iLabAfrica, Strathmore University is organizing a 9-day Holiday Boot Camp for Primary and High School Students from 7th April 2015 to 17th April. Read More

Light sensor market to grow 16% by 2016

Samsung, Apple and Chinese OEMs will drive revenue in the light sensor market to grow 16 percent between 2013 and 2016, according to a new report from IHS.  Read More

Nairobi to host regional digital fair

Nairobi is set to host the second annual East Africa digital Marketing Summit & Show, an annual event designed to bring together key players in the digital marketing space from the East African region. Read More

Is Africa ready to facilitate large-scale satellite deployments?

With the advent of High Throughput Satellite (HTS) services within Africa’s connected business environment, the question of what happens with the remainder of the satellite supply value chain is relevant. Read More

VMware unveils vCloud for NFV with Integrated OpenStack to accelerate service innovation

VMware, the global leader in virtualisation and cloud infrastructure, today debuted VMware vCloud for NFV, an integrated Network Functions Virtualization (NFV) platform that will combine VMware’s production-proven virtualised compute, networking, storage and management solutions with integrated OpenStack support.  Read More

PRESS OFFICES

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

FEATURED STORY

e-commerce space untapped, says phonekings heade-commerce space untapped, says phonekings head

E-commerce is the future, says the head of a new online electronics mall launched in Nigeria. Tayo Olusanya spoke to Kokumo Goodie in Lagos.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

Schneider Electric sponsored runner wins 2015 Paris Marathon

Ethiopian runner, Meseret Mengistu (26), has won the prestigious 2015 Schneider Electric Marathon de Paris women’s race in 2:23:24. 

CNN, MultiChoice launch 20th African Journalist Awards

CNN International and MultiChoice this week officially launched the CNN MultiChoice African Journalist 2015 Awards.