4 ms·
I would guess that approximately zero banks own data centers that are operated by their own employees. There might be a few exceptions to this, but the reality
by quicklime 6y ago
I would guess that approximately zero banks own data centers that are operated by their own employees. There might be a few exceptions to this, but the reality is that most banks don't view technology as part of their core business. So this largely gets outsourced to IT consulting firms like Infosys, IBM, Wipro, etc.
The big question is - how much do you trust these providers, and do you think they are more competent at security than Amazon/Google/Microsoft?
- dathinab 6y agoOr formulate it differently: 1. Trust a provider which whole existence relies on trust and which you can audit or at last cross-check the audit and security processes (as a Bank you are normally not a small customer). 2. Trust a provider which might 1st be a potential competitions in some business fields. 2nd is so big that it can easily afford losing you. 3nd for the same reason doesn't allow you any insights into there internal processes. etc. Plus many of the banks having their own hardware also have their own IT team. So it's often about trusting your own people. I mean either you keep your it or you outsource _and_ go into the cloud. Keeping local servers but outsourcing IT at the same time seems kind not very clever tbh.
- badpun 6y agoOperations is one thing, but security policies setting is another. The cloud provider can for example actively lie to you about having some security measures implemented, while it's not going to happen with your Wipro-like consulting firm, as these people just don't call the shots around the bank and are there typically only to execute procedures written on the bank side.