Security News > 2020 > February > Financial services companies are ahead in hybrid cloud deployments
With security as the guiding factor, financial services companies are ahead of all other industries in deploying hybrid clouds, but they lag behind others in their use of multi-public cloud services, according to a newly-released report.
SEE: Hybrid cloud: A guide for IT pros The report was focused on cloud deployments and planning trends in the financial services industry.
In terms of the types of clouds they deploy, financial companies cited hybrid cloud as the most secure 27% of the time, followed by on-premises, non-hosted private cloud as the next most secure infrastructure, and on-premises, private cloud, according to the report.
That could explain why nearly 18% of financial companies have deployed hybrid cloud today, while 51% plan to shift investment to hybrid cloud in just three to five years, the cloud provider said.
SEE: Security Response Policy "The need for flexibility, as well as waning cost benefits of public cloud over time are likely reasons for 71% financial services companies' plans to repatriate one or more applications away from public cloud and back on premises," Pfeiffer said.