Welcome!

@CloudExpo Authors: Pat Romanski, Zakia Bouachraoui, Elizabeth White, Yeshim Deniz, William Schmarzo

Related Topics: @CloudExpo, Cloud Security

@CloudExpo: Article

Financial Businesses Concerned About Cloud

New study by LogLogic shows questions persist about security

In a recent LogLogic survey, 60% of respondents expressed some reservations about moving to cloud computing technology. 34% of respondents said that cloud was not strategic for their companies, while another 26% said that they were concerned about the risks relating to the technology, and that security was the number one concern.

Respondents cited security, control and transparency as the main drawbacks to cloud computing. According to one IT security manager interviewed, security requirements are “crucial” to adoption and use of cloud computing. “A significant pitfall to cloud computing is the lack of control. It creates a massive security risk.”

“While the cloud holds many benefits for the enterprise, we’re not surprised to see that financial services firms are hesitant to adopt cloud computing,” said LogLogic CEO Guy Churchward. “There are still many lingering questions about data security and transparency in the cloud, and it’s up to cloud providers to offer visibility into these practices before we see mainstream adoption from financial services firms.”

A respondent from a Fortune 500 global financial security company noted that, “We don’t have any cloud computing implementations right now. Typically we’re early adopters – but with cloud computing, we won’t be.”

Recent alleged “state-sponsored” network security attacks by China on Google have had an effect as well. 37% of respondents to the survey have altered their security profile as a result of the China attacks.

It should be noted that LogLogic has been at the forefront of the Cloud Security movement, as an early member of the Cloud Security Alliance, as well as a company that has talked openly about the solutions to security problems in public clouds. LogLogic proposes a full-featured log management solution which audits the happenings on a “cloud provider” as one component of a cloud security program. For more information, see http://loglogic.com/

More Stories By Bill Roth

Bill Roth is a Silicon Valley veteran with over 20 years in the industry. He has played numerous product marketing, product management and engineering roles at companies like BEA, Sun, Morgan Stanley, and EBay Enterprise. He was recently named one of the World's 30 Most Influential Cloud Bloggers.

CloudEXPO Stories
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, Alex Lovell-Troy, Director of Solutions Engineering at Pythian, presented a roadmap that can be leveraged by any organization to plan, analyze, evaluate, and execute on moving from configuration management tools to cloud orchestration tools. He also addressed the three major cloud vendors as well as some tools that will work with any cloud.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is being used on IBM Cloud, Amazon, and Microsoft Azure and how to gain access to these resources in the cloud... for FREE!
Digital transformation has increased the pace of business creating a productivity divide between the technology haves and have nots. Managing financial information on spreadsheets and piecing together insight from numerous disconnected systems is no longer an option. Rapid market changes and aggressive competition are motivating business leaders to reevaluate legacy technology investments in search of modern technologies to achieve greater agility, reduced costs and organizational efficiencies. In this session, learn how today's business leaders are managing finance in the cloud and the essential steps required to get on the right path to creating an agile, efficient and future-ready business.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure.