BFSI VISION Cloud Computing


Anil Jose

Head - IT, Inditrade Derivatives and
Commodities Ltd.

Future of organisations are on cloud!

Mostly all the financial organisations will be on Cloud architecture, which will be private or hybrid. As the industries need latest technologies to give better service to their customers, constant upgrades are needed in the infrastructure and software, which is increasing the cost of IT services. The only question is of public cloud. As we are having lot of compliance requirements that is limiting us to shift the core business apps to public cloud.

The prime factors that resist going for public cloud are the compliance and the data security. The users in the public cloud are not aware of the architecture of the datacenter in which their cloud servers are. This is a major block for financial service industry as we are handling the sensitive data of our customer. We need to have additional monitoring of each activity including the architecture which may increase cost and manpower.

The priorities are to test non-critical services which may not involve customer data. If the service providers, compliance and regulatory authorities give some flexibility, then the transfer will start. This may take time as the present investments for the capital is huge.