Cloud impact on total cost, data sharing, governance and more
FinServ Cloud Data Management Report
What’s in this survey report from Alveo:
Despite the potential for increased risk due to cloud concentration, a majority of global decision-makers in financial services firms say moving market data to the cloud will reduce their firms’ total cost of ownership, according to a recent survey commissioned by financial data management software provider Alveo.
The survey, which included responses from 200 directors and managers at investment management firms, banks and insurance companies across the U.S., UK and Asia-Pacific, found that 62% of global respondents believe moving market data to the cloud will save money. Other perceived benefits of the cloud include easier sharing of data with third parties (41%) and improved data governance (28%).
A recent Gartner survey found that increased reliance on a particular cloud provider with multiple business capabilities is increasingly being viewed as a business risk; still, Alveo’s survey found that among functions finserv firms have moved to the cloud, data management was the most common (59%).