TRENDING
The 2020 respondent base spanned multiple industries , business sizes and the following geographies : the Americas , Europe , the Middle East and Africa and the Asia-Pacific region . Further financial services findings include : more applications in private cloud compared to 33 % of global respondents .
Financial services firms are looking to get the most out of their infrastructure .
The majority ( 86 %) of financial services respondents identified hybrid cloud ( private and public ) as the ideal IT operating model for their organization .
They ’ re evolving their infrastructures to get there , with
This rapid increase in private cloud adoption serves as the basis for a hybrid cloud model , which is expected to become the industry norm over the next few years .
reported plans to reduce reliance on traditional , noncloud-enabled data centers from 14 % to 4 % within one year . The sector plans to increase its deployment of hybrid cloud to about 54 % penetration within five years , up from just under 15 % penetration this year .
Financial services companies are running more applications in private clouds than most other industries polled .
Their reported usage of private cloud ( 39 %) outpaces all other industries except for IT , tech and telecoms ( 40 %) and is slightly higher than its own reported usage in 2019 ( 36 %). In the coming year , 43 % of financial services respondents said they will likely run
The financial services sector ’ s top motivations for modernizing its IT infrastructure is to gain greater control of IT resource usage ( 59 %) and to gain the speed ( 58 %) and flexibility needed ( 55 %) to meet business requirements . While cost is less of a factor , more respondents in the financial services sector rated cost savings ( 31 %) as a higher driver for cloud compared with the global average ( 27 %).
The global pandemic has raised IT ’ s profile and fuelled cloud adoption .
More than three quarters ( 78 %) of financial services respondents said COVID-19 has caused IT to be viewed more strategically in their organizations . In addition , 50 % of financial services respondents said they increased their investment in hybrid cloud as a direct result of the pandemic .
Conclusion
In conclusion , the report finds that financial services organizations , like other sectors , favor a hybrid cloud infrastructure and they ’ ve embarked on a journey to achieve it with an uptake in private clouds , enabled by HCI adoption and rapid decommissioning of legacy data center architecture .
They have a clear preference for running applications on a private cloud ( 39 %) and plan to run more applications that way in the future ( 43 %). p
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