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Earlier quoted context omitted.
Also changing IT in a bank is slow, dead slow. A bank wouldn’t be able to cope with being booted overnight from its infrastructure Parler-style.
That FUD is unwarranted. No bank is going to be kicked off it’s infrastructure. Bringing up Parler seems completely irrelevant.
If you're that size why not split the workload between a couple or all 3 of the big providers. Get them to work against each other. All the concerns about vendor lock-in are ridiculous right now. Prices have consistently lowered for all cloud providers.
We do business in the US financial sector, and the sentiment we are getting with regard to cloud vs on-prem seems to be growing into a bimodal distribution. I would say it's nearly a 50/50 split until we have conversations about how our product actually works and the incredibly sticky problem that is PII... Once the risks are reviewed in open and honest ways, we find that virtually all of our clients would prefer to…
I hope this kind of risk assessment becomes more common. I'm used to people not caring until things blow up on their faces.
[0] https://www.fca.org.uk/publication/finalised-guidance/fg16-5...
Earlier quoted context omitted.
That FUD is unwarranted. No bank is going to be kicked off it’s infrastructure. Bringing up Parler seems completely irrelevant.
While Parler is somewhat irrelevant and the likelihood of any bank being taken down for similar reasons as Parler, it isn't completely incomprehensible. There have been many horror stories of businesses being banned, blocked, or messed around by Google and Amazon. Their policy does not protect anyone but themselves. It is within the realms of reality for bank to be taken down by them in a matter of days.
The cross-bank correlated technical outages and general “fear of the new (15 years now, but continually being enhanced and changed)” is harder to get beyond.
We do business in the US financial sector, and the sentiment we are getting with regard to cloud vs on-prem seems to be growing into a bimodal distribution. I would say it's nearly a 50/50 split until we have conversations about how our product actually works and the incredibly sticky problem that is PII... Once the risks are reviewed in open and honest ways, we find that virtually all of our clients would prefer to…
> Once the risks are reviewed in open and honest ways, we find that virtually all of our clients would prefer to keep our solution on-prem. I hope this kind of risk assessment becomes more common. I'm used to people not caring until things blow up on their faces.
Earlier quoted context omitted.
That FUD is unwarranted. No bank is going to be kicked off it’s infrastructure. Bringing up Parler seems completely irrelevant.
While Parler is somewhat irrelevant and the likelihood of any bank being taken down for similar reasons as Parler, it isn't completely incomprehensible. There have been many horror stories of businesses being banned, blocked, or messed around by Google and Amazon. Their policy does not protect anyone but themselves. It is within the realms of reality for bank to be taken down by them in a matter of days.
We do business in the US financial sector, and the sentiment we are getting with regard to cloud vs on-prem seems to be growing into a bimodal distribution. I would say it's nearly a 50/50 split until we have conversations about how our product actually works and the incredibly sticky problem that is PII... Once the risks are reviewed in open and honest ways, we find that virtually all of our clients would prefer to…
One of the (legal ?) requirements we had to meet back in the 00s was that financial software (quant code, options trading) was "reproducible" for some length of time (7 years?). That meant: version control (SCCS, CVS, svn), archiving OS versions (SunOS, Solaris), and kit (Sun workstations and servers). I have no idea if the last 2 ("OS", hardware) is even achievable in 2021. I can always get my source code from git,…