Cloud services for banks are now a possibilityUntil now cloud computing services have not been an option for banks and other financial institutions. In fact they don’t really use email and other digital communications to a great extent. Across the many business sectors, banking clearly lags behind the others in terms of adoption of cloud service. There are several factors that hamper the adoption of cloud computing in banking, aside from security concerns. Vendors are deterred by the demanding requirements by the banking sector that cover management, security and regulations. However, Software as a Service (SaaS) or cloud application is fast evolving to close the gap on meeting such requirements. Cloud applications are well on the way to becoming part of banking technology. Vertical SaaS that is, cloud application specific to the financial sector is a highly viable model to address the concerns of financial sectors. Banking-specific cloud applications prove to have control, transparency and security coterminous with on-premise applications. The adoption of SaaS is even speculated to have increased by 21.7% in 2016 according to Gartner. As cloud technology continues to grow in innovation and adoption across fields, more and more sectors are expected to benefit from it. Related Article: Small Business can also Benefit from Cloud and Client Portal Do you find this article informative? Learn more how docSAFE, the leading cloud storage provider, help you be more productive?
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