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IDC: More Banks Adopt Cloud Computing

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More than a 25% of U.S. banks now use shared, Web-based technology to provide on-demand access to financial information and services.

International Data Corp., Framingham, Mass., has published that finding in a summary of results from a recent survey of 6,483 information technology and communications decision makers at 259 U.S. banks and credit unions.

About 20% of the participants said they financial institutions they work for plan to use “cloud computing” technology within 3 years.

Financial institutions can use “private cloud services” to share a variety of software tools and data sources through the Internet.

Cloud services can be part of customer relationship management systems and transaction processing systems as well as e-mail communications services.

IDC found:

  • - 26% of banks now use cloud computing services.
  • - 11% of banks plan to install cloud services within the next year.
  • - 13% of banks plan to install cloud services between 1 and 3 years.
  • - 28% of banks have not yet put cloud services on their technology road map.
  • –69% of banks plan to allocate less than 10% of IT budgets to cloud services.