One of the verticals in which many solution providers work – financial services – has also been one of the more challenging markets for cloud services. The reasons are fairly straightforward; security is prime in a vertical market where people’s personal data and financial information are the focus. That has begun to change, primarily with the advent of more easily secured hosted private cloud offerings. The NASDAQ rolled out a proprietary private cloud storage solution for its members earlier this year, and according to this article from GigaOM, the future of cloud and financial services is looking rosier.
While many financial services organizations strictly forbid the use of public cloud (and many other consumer products such as Dropbox and social media apps), the vertical’s leaders are starting to explore other options that avail them the advantages of cloud with far less risk. For example, some have gone the way of private cloud, while others have taken advantage of specialized offerings from public cloud vendors, such as AWS Virtual Private Cloud offering that allows customers or their IT providers to privatize data on that cloud vendor’s infrastructure.
The opportunity for cloud brokers can be as an intermediary, identifying and testing potential private cloud offerings, or working to help create secure portals around public cloud infrastructure to heighten security levels. Regardless, don’t give up on the financial services cloud market yet; rather, look for niche cloud vendors ready and willing to resolve the specific needs of these sensitive clients and guide your financial services customers in that direction.