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Key Considerations for Successful Cloud Adoption in Financial Services

By DTCC Connection Staff | November 3, 2020

Our Cloud Journey Insights to Date

It’s been nearly nine years since DTCC first turned to cloud technology. Along the way, we’ve learned that cloud hosting can bring significant benefits to many classes of applications and feel it’s important to share our experiences to date.

We began our cloud journey in 2012 and since that time, have made significant progress leveraging the technology including establishing cloud engineering as a core skill, advancing resiliency testing, expanding our usage of cloud services, and developing and advancing cloud specific management and governance capabilities.

When we released our first cloud white paper, Moving Financial Market Infrastructure to the Cloud, in May 2017, we asserted that cloud computing had reached a tipping point, with capabilities and cost efficiencies exceeding those achieved via in-house data centers.

As we’ve progressed in our cloud journey, we’ve reinforced the importance of key considerations that have caused us to adjust our pace in approaching cloud adoption. Those foundational considerations include the need for strong governance, controls and monitoring; a continued focus on ensuring resiliency; development of internal guidance as to when to leverage the cloud; and ongoing efforts to work with vendors to address our most challenging requirements.

We are pleased to share our experiences in our new white paper, Cloud Technology: Powerful And Evolving. The paper, which continues our ongoing work to share insights on key industry issues and emerging topics, outlines a range of considerations for firms considering cloud adoption.

In the spirit of “Advancing Financial Markets. Together,” our goal is to assist the financial services industry in their efforts to responsibly leverage robust cloud implementations while embracing standards and best practices. We hope you take time to read the paper and look forward to your feedback.

Robert Palatnick Managing Director and Global Head of Technology Research and Innovation

Read Whitepaper