Singapore and Hong Kong, November 13, 2013 – The evolution of new Cloud delivery models may prove to be the turning-point for the technology’s uptake in Asia/Pacific’s conservative financial industry.
The continued hybridization of Cloud will not only give financial institutions access to the ‘right’ model for their industry, but grant them a tailor-made solution for each organizational function as well, says Sui-Jon Ho, market analyst in IDC Financial Insights.
IDC Financial Insights’ latest study, ‘Business Strategy: Asia/Pacific Financial Cloud 2013 – Getting the Best of Both Worlds’ (#FIN243963), reports that the region is becoming more accommodative to cloud initiatives as once-fragmented financial regulations begin converging on the topics of service interruption, information leakage and customer data security. Longstanding policy uncertainties are being gradually dispelled, albeit at the price of more onerous measures.
In coping with regulatory and business mandates, four common parameters must be considered: the type of datacenter management (internal or third-party), its location (on-premise or off-site), user tenancy (single-tenant or multitenant) and the inclusion data segregation (hardware, software or none).
This report details how the Dedicated Private Cloud (DPC), Virtual Private Cloud (VPC) and the Community Cloud models (alongside traditional public and private cloud services) could potentially offer a solution to the extensive IT wishlists of today.
Ho states, “The evolution of cloud technology provides users today with an opportunity to choose the best-of-breed solutions to gain better business efficiency. Hybrid models along the private-public spectrum now have lower barriers of entry and are becoming viable solutions to the longstanding ‘cost-versus-compliance’ dilemma.”
Towards 2014 and beyond, the pursuit of business continuity must accommodate not only the pan-Asian ambitions of the modern FSI, but the super-regional demands of the ‘global client’ as well. An increasing number of institutions have, as a result, deployed hosted private cloud solutions across various functional processes to meet the twin mandates of cost efficiency and faster time-to-market.
He continues, “Taking full advantage of cloud solutions lies in determining which of Asia’s structural environments are becoming more permissive for cloud rollouts. Macro-factors, from regulatory alignment to ICT infrastructure modernization, play a deciding role in deciding where such technologies can be deployed to greatest effect.”
About IDC Financial Insights
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email info@idc-fi.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. For more than 49 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.