A recently announced update by the regulators has confirmed that public cloud services as provided by Amazon Web Services (AWS) is suitable for banking:
This is great news for many other European financial institutions. It shows that even with the stringent regulations around financial operations you can use an “off-premise” cloud and still have a secure environment.
Security has not been an issue for some time. Public/off-premise Cloud services like AWS have been able to provide the security needed but it has been the compliance to regulations that has been challenging.
So with banking, governments, security organisations, manufacturing, energy & utilities, as well as global media and telecommunications using cloud services it should be clear to all except the most stubborn that cloud has matured and is the way forward offering flexibility and cost efficiency to all types of business.