Are banks ready for the cloud?

The move to the cloud, and the generational shift in computing that it represents, is well under way but we are still at the start of the journey. Illustrating the point, Amazon Web Services head Andy Jassy compared the shift to the cloud to the development of the electricity grid:

‘One hundred and fifty years ago, most companies generated their own electricity on the premises and it was a completely natural thing to do. But then, with the advent of the grid, the economies were such that it didn’t really make sense to generate your own electricity, even though you could. I think that we’re at the beginning of a similar shift.’

Just how far this change will take us is brought home by the US National Intelligence Council (NIC) in its ‘Global Trends 2030: Alternative Worlds’ report, aimed at stimulating thought about possible global trajectories during the next 15 to 20 years. In characterising the role of IT as one of a number of ‘game changers’, the report spoke of the increasing comprehensiveness and pervasiveness of the cloud…

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