Cloud computing security and compliance issues challenge banks

While compute clouds promise inexpensive and plentiful computing resources, the lack of standard security practices, concerns about the implications on compliance frameworks and operational risk worries have led many users in the financial services industry to adopt a hybrid public-private cloud strategy, according to members of the industry

"Standardization and things like compliance are very nebulous in the cloud environment right now, especially on the public cloud side," says Iran Hutchinson