“Cloud computing is not as disruptive as many organizations feared. Using a cloud provider has come as naturally to most organizations as using webmail.But for the financial sector, international laws make life—shall we say—challenging. Here’s why.Behind the scenes, there are heavyweight struggles taking place that center around the “sovereignty” of data. If data are stored across international borders, how can your customers be sure that their sensitive personal information is safe? More importantly—at least from the lawyers’ perspective—who can be sued if it isn’t safe?
For organizations in the financial sector, the picture can be murky.”
Moving to the Cloud is always tricky, especially if management and ownership is at all protective of the physical location of their data. Many companies, especially those who answer to regulatory or contractual requirements can’t just move data “anywhere”. With the growth of international cybercrime – expecially – large, dispersed data centers have to be extremely careful about where your stuff resides, even if its virtualized or replicated across internatioanl borders.
Thanks to Forbes