Financial Services organisations, and in particular banks, have been slow to embrace the cloud. IT and security decision makers in the banking industry have traditionally been cautious when making critical decisions around the migration of sensitive personal and financial information to the cloud. However, as customers are increasingly demanding better interactive experiences, more feature rich applications, frictionless access and increased visibility, there is increased pressure to migrate to an improved, feature-rich and flexible cloud model. Business leaders are gradually targeting the cloud as a way to drive growth and increase agility toward the digital disruption of the banking industry. However, strategies for cloud migration in the Financial Services industry are not as advanced as other industries. Some of the most significant challenges facing banks include the impact of cloud on regulatory compliance, migration of legacy systems, closing the skills gap and maintaining security.
There are multiple factors that will influence many of the decisions feeding into a cloud strategy and security should be paramount in from start to finish.
Ross is a senior manager in Deloitte’s Cyber Risk Services department leading a large pool of specialist cyber resources on a diverse range of projects. Prior to joining Deloitte, Ross worked in the areas of IT service delivery and project management in the financial services, information technology and IT security sectors. With over 16 years of experience in IT, Ross has gained valuable insight into the management of IT systems and security in the financial services sector. Ross holds two masters degrees in the fields of Software Engineering and Cloud Computing and holds CISM, SABSA and ISO Lead Auditor certifications. Ross is also specialised in the areas of Cloud Security and Payments Systems Security, and is a the chapter lead for the Cloud Security Alliance here in Ireland.