The sixth annual Financial Services Enterprise Cloud Index (ECI) survey and research report by Nutanix shows that IT decision-makers in the financial services industry are expecting the adoption of hybrid multi-cloud solutions to triple in the next three years. Alongside this trend, data security, ransomware protection, AI strategy implementation, and cost reduction are top priorities for these decision-makers.
One significant finding from the report is that almost all respondents (99%) have experienced a ransomware attack in the past three years, highlighting the prevalent cybersecurity risks faced by the financial services sector. Additionally, 89% of respondents believe that their organizations could enhance their protection measures against such attacks.
In terms of recovery from cybersecurity incidents, around half of the respondents stated that their organizations needed a few days or weeks to restore operations fully post-attack. Alarmingly, 12% reported that the impact of the attack lasted longer than the time taken for operations to be restored, even though the restoration process itself took only a few days or weeks.
Lee Caswell, SVP of Product & Solutions Marketing at Nutanix, expressed concern over the high prevalence of ransomware attacks among financial services respondents. He emphasized the importance of hybrid multi-cloud adoption as a means to address these cybersecurity risks, particularly with new regulatory requirements like the EU’s 2025 Digital Operational Resilience Act (DORA) coming into effect. Caswell sees data protection and disaster recovery in a hybrid multi-cloud environment as imperative for financial services organizations to mitigate these growing security threats.
In conclusion, the ECI survey reveals a clear emphasis on hybrid multi-cloud adoption, data security, ransomware protection, and AI strategy implementation among IT decision-makers in the financial services sector. The widespread experience of ransomware attacks underscores the urgency for organizations to enhance their cybersecurity measures and invest in resilient cloud solutions to safeguard their data and operations against evolving threats and regulatory requirements.
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https://futurecio.tech/hybrid-multi-cloud-adoption-for-financial-services-to-triple-study-finds/