Nutanix announced the financial services findings of its global 2022 Enterprise Cloud Index (ECI)
survey and research report, which measures enterprise progress with
cloud adoption in the industry. The research showed that fewer financial
services organizations have adopted multicloud than any other industry
surveyed, trailing the global average by 10%. However, adoption is
expected to nearly double from 26% to 56% in the next three years, in
line with the global trend of evolving to a multicloud IT infrastructure
that spans a mix of private and public clouds.
Among
financial services ECI respondents, 31% are still operating
non-cloud-enabled three-tier datacenters as their only IT
infrastructure. They also reported having the lowest deployment of all
industries surveyed in public cloud usage, with 59% using no public
cloud services compared to 47% globally, likely due to substantial
existing legacy investments in applications and the highly regulated
nature of the industry. The complexity of managing across cloud borders
remains a major challenge for financial services organizations, with 84%
of respondents agreeing that success requires simpler management across
multicloud infrastructures, and 50% citing security concerns as a
challenge to the multicloud model. To address top challenges related to
security, interoperability, and data integration, 82% agree that a
hybrid multicloud model, an IT operating model with multiple clouds both
private and public with interoperability between, is ideal.
"While
the financial services industry appears to be in the early phases of
deployment, the evolution to an interoperable multicloud IT
infrastructure that spans a mix of private and public clouds is
underway," said Anand Akela, VP of Product and Solutions Marketing at
Nutanix. "As information security and operational resiliency remain
front and center for financial services organizations, they must look to
hybrid multicloud solutions with integrated manageability and security,
and the ability to quickly move apps among cloud infrastructures
cost-effectively."
Financial
services survey respondents were asked about their current cloud
challenges, how they're running business and mission-critical
applications now, and where they plan to run them in the future.
Respondents were also asked about the impact of the pandemic on recent,
current, and future IT infrastructure decisions and how IT strategy and
priorities may change because of it. Key findings from this year's
report include:
- Financial services organizations face multicloud challenges,
including security (50%), integrating data across clouds (46%), and
performance challenges with network overlays (43%). Given that nearly
78% cited the lack of some IT skills to meet current business demands,
simplifying operations is likely to be a key focus in the year ahead.
However, IT leaders are realizing that there is no one-size-fits-all
approach to the cloud, making hybrid multicloud ideal according to the
majority of respondents (82%). This model will help address some of the
key challenges of multicloud deployments by providing a unified cloud
environment on which security and data governance policies can be
applied uniformly.
- Application mobility is top of mind. Nearly
all financial services respondents (98%) have moved one or more
applications to a new IT environment over the last 12 months, likely
from traditional datacenters to private clouds given the industry's
relatively low multicloud and public cloud penetration. Faster app
development (43%) was most often cited as the reason for the move,
followed closely by security (42%), and integrating with cloud-native
services (40%). Additionally, with a large majority (83%) agreeing that
moving applications to a new environment can be time-consuming and
costly, it's expected that the adoption of containers will rise in step
with multicloud deployments to enable apps to run and move nearly
anywhere quickly and easily. Among financial services respondents, 86%
said that containers will be important to their organizations within the
next year.
- Top financial services IT priorities for the next 12 to 18 months include
improving security posture (54%), improving multicloud management
(49%), and developing and/or implementing cloud-native technologies
(47%). When asked what their organizations had done differently because
of the pandemic, 70% said they had increased spending to strengthen
their security posture, 64% spent more on increasing AI-based
self-service automation, and 64% invested in infrastructure upgrades.
For
the fourth consecutive year, Vanson Bourne conducted research on behalf
of Nutanix, surveying 1,700 IT decision-makers around the world in
August and September 2021. This report is supplemental to the global Fourth Annual Enterprise Cloud Index master
report and focuses on cloud deployment and planning trends in the
financial services industry, based on the responses of 250 IT
professionals in banks and insurance companies across the globe. It
compares the cloud plans, priorities, and experiences of these
organizations to other industries and the global response base overall.
To learn more about the report and findings, please download the full Nutanix Enterprise Cloud Index, here.