Dorothy Agnew looks at the FCA's guidance on cloud-based IT services for financial services firms and explains what advisers need to keep on top of
In the simplest terms, ‘cloud' computing refers to storing and accessing data and software programs over the internet rather than on a local server or hard drive. The ‘cloud' is just a metaphor for the internet. According to Cisco, cloud applications will account for 90% of global mobile data traffic by 2019 compared to 81% at the end of last year. Trends suggest that more and more businesses are moving their platforms and infrastructures into the cloud (see chart below) as ultimately that is where their consumers are. This brings in itself a number of challenges for any busine...
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