43% of financial services orgs plan to increase private cloud investments
Nutanix revealed the financial services industry findings of its report for organizations’ plans for adopting different types of clouds. The findings show a digital transformation with 50% of respondents stating that COVID-19 had caused them to increase their investment in the hybrid cloud. The hybrid cloud is the only IT model showing positive growth, and is expected to grow by 39% in five years. 43% of financial service companies plan an increase in their investment in private cloud in the next year.
The push for private and hybrid cloud adoption is likely caused by security and privacy concerns as 30% of respondents dislike that the public cloud does not allow negotiable security measures of private data. Hyperconverged infrastructure is also increasing as 50% of the respondents say they’ve deployed or are developing HCI, showing the confidence in private cloud. Historically financial services organizations utilize public cloud, however, private cloud and hybrid cloud seem to be growing in desirability for companies to optimize usage and allow for greater security measures.