Cost, security concerns dampen banks' appetite for multi-cloud infrastructures

As firms make progress on cloud adoption, they are discovering that multi-cloud strategies for individual businesses can not only duplicate costs, but can also inadvertently downgrade a firm's resiliency.

Leveraging Interconnection and the Cloud for Faster, Smarter Business Decisions
Regulators recommend multi-cloud strategies, but banks are balking at the impracticalities.

A multi-cloud architecture hosting critical applications should, in theory, be the gold standard for a resilient and cost-effective technology stack in financial services. But in practice, the reality looks very different, banks say.

Several years into their cloud journeys, some firms have realized that using multiple cloud service providers (CSPs) for each critical function can cancel out the benefits of moving to the cloud. One senior executive at a large global investment bank says that

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