Press release
Study Shows Financial Services Organizations’ Push Towards Hybrid Cloud Model is Built On Private Cloud Investments
43% of Financial Services Companies Globally Plan to Increase Their Investment in Private Cloud Over the Next Year SAN JOSE, Calif.--(BUSINESS WIRE)--
About this update from Nutanix, Inc.
[{"type":"text","content":"\n43% of Financial Services Companies Globally Plan to Increase Their Investment in Private Cloud Over the Next Year\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNutanix (NASDAQ: NTNX), a leader in private cloud, hybrid and multicloud computing, today announced the financial services industry findings of its third annual Enterprise Cloud Index Report, measuring organizations’ plans for adopting private, hybrid and public clouds. The findings point to a digital transformation within the industry, with half of respondents (50%) reporting that COVID-19 caused them to increase their investment in hybrid cloud.\n\nIn the industry’s five-year outlook, hybrid cloud is the only IT model showing positive growth among financial company respondents, and it is expected to increase by 39% in that timeframe. In addition, 43% of financial services companies plan to increase their investment in private cloud over the next year, 10% higher than the global average (33%) – pinpointing that private cloud adoption is crucial to creating a modern hybrid cloud.\n\nOther key findings of this year’s report include:\n\n\nSecurity concerns are driving private cloud adoption: Financial services organizations ranked security, privacy, and compliance issues as the most concerning when running applications within public cloud solutions (62%). Respondents were less concerned with public cloud capacity (30%), showing that while public cloud has the capabilities to support IT infrastructures, the security of sensitive data is non-negotiable, and organizations are looking for alternative solutions.\n\n\nInvestment in hyperconverged infrastructure shows the industry’s confidence in private cloud: Nearly 50% of financial sector respondents say they’ve either fully deployed HCI or are in the process of doing so, while 38% report they will be deploying HCI within the next 12 to 24 months. This investment is directly aligned with increased private cloud adoption, as HCI reduces the time it takes to build the software-defined, scalable infrastructure necessary to support private cloud.\n\n\nFinancial services organizations are looking to optimize their cloud usage: The sector’s top motivations for modernizing its IT infrastructure is to gain greater control of IT resource usage (59%) and to gain the speed (58%), and flexibility needed (55%) to meet business requirements.\n...