Security concerns slow bank adoption of cloud and mobile
- 18 June, 2014 01:04
Concerns over security are creating a barrier to the deployment of technologies such as cloud and mobile by UK banks, a survey has claimed.
In Fujitsu's 'Financial Services Landscape' report - which surveyed 176 IT decision makers at a range of financial sector firms - respondents indicated that uptake of digital technologies was slower than previously expected.
For example, although the number of companies to roll out cloud computing across their organisation had doubled from two years ago, it still meant that only 16 percent of banks have done so. Meanwhile, 20 percent do not see cloud as an 'enabler' for their business at all.
For those not intent on implementing cloud technologies, the most common reason was security, cited by 42 percent.
"This presents cause for concern. While security should be a priority for any IT deployment, it shouldn't be the blocker standing in the way of a technology with the vast potential of something such as cloud," the report claims.
"When it comes to cloud security, a CIO's objective remains the same as ever: to understand and manage risk."
Other reasons for not adopting the technology included cloud not being key to core business, 22 percent, and unsuitable cost structures, 11 percent.
Mobile uptake also lagged expectations. While most of the large banks have already developed and launched mobile apps - ranging from mobile banking to more sophisticated payment systems - uptake across the whole of the UK financial sector is less comprehensive.
Almost half, 48 percent, say that they have no plans to invest in a customer-facing mobile strategy. This is actually an increase from a similar study two years, which noted 44 percent did not plans for mobile in place.
Again, the main reason for not developing a mobile strategy is fear around security. This had decreased from the previous figure of 64 percent, but still indicates a significant barrier to adoption.
Other factors were mobile 'not being a key priority', 41 percent, and the cost of deployment, 39 percent. Meanwhile, 32 percent claimed that there was insufficient demand from customers.
Another area where security concerns were to be found was with regards to IT outages.
Only a third, 35 percent, were 'very confident' that they could maintain security in the event of a systems failure. 33 percent said that they were fairly certain they could remain secure.