MEA financial institutions wary on cloud
COMPUTINGBy BiztechAfrica - June 9, 2012, 9:07 a.m.
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.
MORE COMPUTING NEWS
PC & console games revenues declineGlobal revenues from PC and console games will decline from $46.5bn this year to $41bn by 2019, but will continue to account for over 50% of industry revenues, says new research. Read More
How the cloud can power entrepreneurship and urbanisation in AfricaCloud computing is not only fundamentally changing the way business operates, it is also driving a new wave of job creation opportunities, says SAP Africa. Read More
First Pan-African Women in Tech virtual meetup in AugustThe first ever pan-African Women in Tech meet up will take place as a virtual event in August, supported by simultaneous live viewing events in Uganda, South Africa and Ghana. Read More
Schneider Electric announces winners of Go Green in the City 2014Schneider Electric, the global specialist in energy management, has announced the winner among the 24 finalists in its global business case challenge, Go Green in the City. Read More
VMware named a leader in 2014 Magic Quadrant for x86 server virtualization infrastructureVMware is positioned in the Leaders Quadrant of Gartner’s 2014 Magic Quadrant for x86 Server Virtualization Infrastructure for the fifth year in a row. Read More
Acer announces management change in EMEAAcer has announced that Luca Rossi will be appointed president for Acer Europe, Middle East and Africa (EMEA). Read More
MEA external storage market: the slump before the surgeThe Middle East and Africa external storage market may have suffered a marginal 2% year-on-year decline in revenue during the first quarter of 2014, but the downturn can be attributed to an annual quirk in the market, says IDC. Read More
Togo anxiously awaits locally-made laptops, smartphonesStudents, office employees and business people in the West African nation of Togo are anxiously waiting for the first batch of locally-manufactured IT equipment to hit the market. Read More
Global development, local support key in today’s ERP landscapeGiven the challenges of today’s globalised and fast-paced marketplace, South African mid-market companies need to implement enterprise resource planning (ERP) solutions that offer a balance of global scale and local support and expertise. Read More
Schneider Electric’s N-Series auto reclosers keep outages to a minimumIntelligent switching to ensure quick response to faults - reducing maintenance and keeping outages to a minimum - can be achieved thanks to the N-Series medium voltage (MV) automatic circuit reclosers (ACR) up to 38kV by Schneider Electric. Read More
FEATURED STORYWidening ICT skills gap: Cause for concern
Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.
BEST READ NEWS
IN DEPTHKenya rolls out e-extension to improve agriculture
In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.
COMPANY NEWSVMware reports second quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced financial results for the second quarter of 2014.New Sage ERP X3 version puts business information at your fingertips
Sage ERP Africa has announced the availability of Sage ERP X3 version 7, the latest version of its global business management solution for midsized companies.How the cloud can power entrepreneurship and urbanisation in Africa
Cloud computing is not only fundamentally changing the way business operates, it is also driving a new wave of job creation opportunities, says SAP Africa.