[South Africa] Hybrid multicloud adoption for financial services to triple, Nutanix study

Hybrid multicloud adoption in the financial services sector is expected to triple in the next three years according to a new report released by Nutanix, a leader in hybrid multicloud computing.

The report which measures enterprise progress with cloud adoption in the financial services and insurance industry was released on Thursday.

The Financial Services ECI report further revealed that data security and ransomware protection, implementing AI strategies, and minimising cost are driving IT decision makers infrastructure priorities. 99% of ECI financial services respondents shared that they had experienced a ransomware attack at some point in the past three years. 89% agreed that their organisations had room for improvement when it came to their ability to protect against such attacks. AI was noted as a key driver of IT infrastructure priorities as well, as IT leaders are increasingly tasked to leverage AI solutions to improve decision-making and enhance customer experiences.

This evolution reflects the strategic deployment by financial services industries of diverse cloud environments tailored for specific operational, cost, compliance, and control requirements.

Hybrid multicloud architecture’s appeal lies in its ability to offer diverse cost, billing, and deployment options, empowering digital enterprises with the flexibility to enhance application performance, bolster security, accelerate time to market, and optimise IT expenditures.

“It is startling to see that nearly all the financial services respondents in this year’s ECI Survey have experienced a ransomware attack,” said Lee Caswell, SVP Product & Solutions Marketing at Nutanix.

“It’s a sign of the times that hybrid multicloud adoption is set to triple as financial services users gear up for heightened cybersecurity risks as new regulatory requirements, such as the EU’s 2025 Digital Operational Resilience Act (DORA), go into effect – making data protection and disaster recovery a hybrid multicloud imperative.”

For the sixth consecutive year, Vanson Bourne conducted research on behalf of Nutanix, surveying 1,500 IT and DevOps/Platform Engineering decision-makers around the world in December 2023. The respondent base spanned multiple industries, business sizes, and geographies, including North and South America; Europe, the Middle East and Africa (EMEA); and Asia-Pacific-Japan (APJ) region.

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