At Amazon's Web Services conference in New York last week It was again highlighted that despite the titans of Wall Street talking a good game about their efforts to put their systems on to the cloud the reality is lagging well behind their ambitions.
“Even today, [banks] are still in the aspiration mode,” says Steve Randich, chief information officer at US financial regulator Finra, who spoke about his agency’s six years on the cloud at Amazon Web Services’ conference in New York last week. “Even firms . . . that are kind of noisy in the press about it, I’ve been in there, I’ve talked to them, and they’re not even a fraction of where we are [in terms of cloud adoption]," adds Randich.