Great posting from Chris Allison at Citihub. Key insights IMO opinion below, paraphrased from the article:
Why are some regulators warming to the (public) cloud model?
- For startup fintech firms, it’s easy to see why a regulator would have more confidence in them leveraging an existing, world class infrastructure from a cloud services provider, rather than do it themselves from scratch.
- At the other end of the spectrum with huge enterprise banking environments, beset with technical debt from years of M&A and peaks and troughs of IT investment, it’s easily imagined how how apps running in the cloud have a cleaner operating environment, with improved control, transparency, etc.
- Trend is encouraged/supported by public sector/government adoption of public cloud, which has similar data protection concerns.
via Banks and Regulators accelerating pace for Public Cloud.