Security, regulatory concerns addressed, US financial firms embrace cloud

New York

ONLY two years ago, an outage similar to the one that struck Amazon's cloud services last month would have reinforced US financial firms' view that shifting data and systems onto the public cloud was just too risky.

The fact that the Feb 28 shutdown had no visible impact on the industry's use of cloud services goes to show how far it has progressed since then in embracing the cloud after nearly a decade of hesitation.