Clouding the issue: blurred lines divide banks and servicers
Banks are increasingly clashing with the big three cloud service providers over data security and configuration errors.
The shift to the cloud is a compelling value proposition for banks. In offloading the fixed costs of maintaining in-house IT services, they can dedicate greater resources to their core businesses and build more competitive products. Once a bank has switched, there’s an understanding that the cloud provider will shoulder the responsibility for infrastructure and security, while the bank retains responsibility for its data and applications.
At least, that’s the theory. In reality, say banks, the
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