Survey: Financial Firms Look Towards Public Cloud

In a new survey conducted by Thomson Reuters, 90% of financial services firms said that they will use public cloud for the majority of their market data needs in less than four years, while 24% said that they will do so within just one year. Meanwhile, respondents said their firms would be increasing investment in public cloud by over a half, from 30% of IT budgets in 2017 to 47% in 2019. These results are particularly significant, given that financial services firms are increasingly fuelled by data, whether to discover profitable new insights or to help them automate their reporting processes and manage costs at a time of intense regulatory pressure.