Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics for pharmacy trends
    How Data Analytics Is Tracking Trends in the Pharmacy Industry
    5 Min Read
    car expense data analytics
    Data Analytics for Smarter Vehicle Expense Management
    10 Min Read
    image fx (60)
    Data Analytics Driving the Modern E-commerce Warehouse
    13 Min Read
    big data analytics in transporation
    Turning Data Into Decisions: How Analytics Improves Transportation Strategy
    3 Min Read
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Public Cloud Provides Most Data Security for Financial Services Firms
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Uncategorized > Public Cloud Provides Most Data Security for Financial Services Firms
Uncategorized

Public Cloud Provides Most Data Security for Financial Services Firms

amisra
amisra
5 Min Read
SHARE

Salesforce for Financial Services, Financial Services Cloud

Corporate IT continues to argue that public cloud security cannot be trusted. They believe, mistakenly, that they can keep data more secure than the public cloud.

Salesforce for Financial Services, Financial Services Cloud

Corporate IT continues to argue that public cloud security cannot be trusted. They believe, mistakenly, that they can keep data more secure than the public cloud.

More Read

Is Your First Name Really an Indicator of Success?
ggplot2 documentation, get it while it’s hot
Judgmental Adjustments to the Forecast
Use decision management to make systems smarter
Metro Detroit Has “Become a Leader Among the Nation’s Technology Economies”

“We live in a world where data center breaches are in the headlines almost monthly, much to the consternation of corporate IT — the same corporate IT that fears the public cloud due to fears around data security. The truth is that the public cloud is more secure than the typical data center, and IT would get better security if it got past its prejudice against the cloud,” says David Linthicum, in his recent article.

Look at the recent hackings of Ashley Madison, Hilton and plenty of others. I’m sure they all deployed IT security specialists and spent a lot in managing security. But it wasn’t enough.

Because IT manages its own data resources, it believes it’s doing a better job than other people might, says Linthicum — especially those people at those cloud services where security practices are opaque. But it’s simply not true. Cloud providers have better security mechanisms in place and are more paranoid — and attentive — to security risks throughout their entire stack.

What public clouds bring to the table are better security mechanisms and paranoia as a default, given how juicy they are as targets. The cloud providers are much better at systemic security services, such as looking out for attacks using pattern matching technology and even AI systems. This combination means they have very secure systems.

It should be no surprise that the hackers move on to easier pickings: enterprise data centers. The on-premises systems that IT manages is typically a mix of technologies from different eras. The aging infrastructure is often less secure — and less securable — than the modern technology used by cloud providers simply because the old, on-premises technology was designed for an earlier era of less-sophisticated threats. The mixture of different technologies in the typical on-premises data center also opens up more gaps for hackers to exploit.

The public cloud has the advantage of being less complex and not dependent on older technologies. At the core, it’s a more secure platform.

The Navatar View

Corporate IT doesn’t agree. Here is an example of what an IT security expert had to say:

“As a communications programmer, I tell you that most customers have not fully realized the risks inherent in the current implementations of multi-tenant cloud computing. Those can be cleaned up eventually, but they CAN NOT BE CLEANED UP COST EFFECTIVELY. The encryption required means non-trivial CPU usage. So, you’re faced with either doing whatever you’re doing insecurely, or doing it with dedicated hardware. The multi-tenant, elastic model is simply broken from a security and efficiency perspective.”

CPU power is cheap so the entire argument falls flat. Nevertheless, these kinds of arguments sometimes influence financial services organizations into keeping their data in-house, even though they are breached constantly (just look at how frequently your credit card gets compromised).

If big banks cannot safeguard their data, imagine what choice smaller financial institutions have. There is no way an organization with a few hundred people or less (with a small IT team) can build the level of data security that salesforce.com or amazon can.

We agree with Linthicum – “cloud providers have done a better job, both because they have to and because their newer technology makes out easier for them to do so. IT should be taking advantage of that cloud security focus, not ignoring it.”

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

payment methods
How Data Analytics Is Transforming eCommerce Payments
Business Intelligence
cybersecurity essentials
Cybersecurity Essentials For Customer-Facing Platforms
Exclusive Infographic IT Security
ai for making lyric videos
How AI Is Revolutionizing Lyric Video Creation
Artificial Intelligence Exclusive
intersection of data and patient care
How Healthcare Careers Are Expanding at the Intersection of Data and Patient Care
Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

One to watch regarding standards and security

3 Min Read

My Opinion: NYT wants cyber security to be a divisive issue.

3 Min Read

Those Luddite Publishers Have a Point

3 Min Read
cloud ERP implementation
Uncategorized

When Does Cloud ERP Start Saving Money?

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
ai chatbot
The Art of Conversation: Enhancing Chatbots with Advanced AI Prompts
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?