MEA financial institutions wary on cloud
COMPUTING| 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
Police MfB, Intel, Airtel partner on computers for SMEsThe Nigerian Police Force Microfinance Bank (NPF MfB) has entered into a strategic partnership with Airtel and Intel to provide affordable and accessible technological devices for the Nigerian police force and SMEs in Nigeria. Read More
Transceiver warrantees: ProLabs separates fact from fictionValue-added distributer, Networks Unlimited distributes ProLabs’ product line of high-quality, OEM-compatible optical transceivers and direct-attach cables offering at significant cost savings, often up to 70 percent less than OEM branded products, across the African continent. Read More
Resolving the data centre disconnectThe disconnect between virtualised applications and physical storage is costing businesses time and money. Read More
Huawei’s Botswana footprint ‘commendable’: MDGao Wenli, Managing Director of Huawei Botswana, is upbeat about the progress his company has made in the country so far. Read More
Huawei stages inaugural ICT conference in BotswanaHuawei Technologies Botswana held its inaugural ICT conference where a lot of its cutting edge technology was on display. Read More
Huawei initiates e-learning in Ugandan schoolsIn a bid to deepen ICT adoption among Ugandans, Huawei Uganda has provided internet connected computers to schools in western Uganda. Read More
F5’s latest plugins create compelling argument to move to OpenStackOpenStack has emerged as one of the most popular cloud computing platforms, allowing organisations to easily build and scale next-generation applications in an open source environment. Read More
Dealing with the dark side of rapid digitisation in financial servicesMobile payments and digital banking is evolving at breakneck speed across Africa, raising new digital security risks. Read More
Networks Unlimited Recognised as Riverbed Distributor of the Year for South AfricaNetworks Unlimited, a value-adding distributor of converged technology, data centre, networking, and security technology throughout Africa, has announced that it has won the Riverbed® Technology Distributor of the Year 2015 Award for South Africa. Read More
MP says ICT can improve service deliveryAn Inter-District Public Service Celebration has given the Member of Parliament for Tati West, Biggie Butale the platform to encourage other public servants to take advantage of opportunities provided by ICT and youth talent to enhance service delivery. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.