7th February 2022
Press Clipping | Waters Technology: Cost, security concerns dampen banks’ appetite for multi-cloud infrastructures
By Josephine Gallagher
– Matt Barrett, CEO of Adaptive Financial Consulting
Using more than one cloud provider per business unit, such as the front or middle office, could also mean some banks end up sacrificing parts of their security. Matt Barrett, co-founder and CEO of London-based trading systems developer Adaptive Financial Consulting, says banks are now discovering that they must make compromises to meet a minimum level of security that works across each of the CSPs they use.
“If you’re a huge investment bank, you have a lot of cross-organizational concerns that span multiple countries, regions, and regulatory environments, and you need to comply with a lot of regulation around the identity of your client’s authentication, storing of data, and jurisdictional control over data, etc,” Barrett says. “If you’re in one cloud provider, you can centralize that and the controls and the logic around that in one place within your organization. If you’re in two or maybe three cloud providers, you have to do that twice or three times.”
Read the full article here.
