Cloud computing is making a lot of advances across several different sectors of business. Industry, IT, and several others are discovering the value inherent in having access to some services where the infrastructure for same isn't necessarily on site. Perhaps one unexpected source of cloud computing gain, however, comes from the financial sector, where banks are beginning to discover benefit in not maintaining infrastructure on some systems.
The growth of two critical features, Infrastructure as a Service (IaaS) and Software as a Service (SaaS (News 
- Alert)), is driving a lot of organizations to look at different ways to offer up the products and services normally provided for internal use. Small and medium-sized firms are often quick to pounce on the benefits associated with IaaS and SaaS, and banks -- themselves often small and medium-sized firms--are rapidly discovering those benefits as well.
Tom Secunda, a founding partner, vice chairman and global head of financial products and services at Bloomberg (News - Alert) LP, provided some remarks to underscore the motives behind the changes. "In the finance industry, people are really starting to worry about costs and being efficient. In today's world, efficiency is outweighing growth." He further elaborated by saying "If you are a small [firm], or medium, wow, what a level of service you can get. And because the outsourcers do this across many customers...Read More>>>
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