Cloud computing is a $136 billion industry, and it continues to grow. As consumers become more technology-savvy, individual use of cloud services enters the realm of convention. Cloud migration is picking up speed because it introduces cost-effective and flexible services into a previously expensive technological sphere. However, cloud computing also gives rise to new security challenges.
With weightier compliance penalties, ever-deepening cybercrime, and rapid adoption rates of public or hybrid cloud, financial services companies must pay closer attention to cloud compliance and stop treating it in a vacuum.