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Cloud computing guidelines needed by financial services companies, says EU agency

Cloud computing guidelines needed by financial services companies, says EU agency | Cloud Central | Scoop.it

Banks, insurance companies and other financial services businesses need new guidelines that better explain how they can make use of cloud-based services and applications without falling foul of legal and regulatory requirements, according to a research paper published by an EU agency.

Peter Azzopardi's insight:

The paper recommended that the European Banking Authority (EBA) and ENISA "define the conditions for adoption of cloud-based services and applications in the finance sector".

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Cloud delivers €160 billion boost to European Union economy

Cloud delivers €160 billion boost to European Union economy | Cloud Central | Scoop.it
Cloud computing is expected to add around €160billion to the EU’s GDP in 2020. By the end of 2015 around 70 per cent of all businesses will use cloud computing, while some 925,500 direct and indir
Peter Azzopardi's insight:

“The most recent estimates indicate that, in 2016, the availability and adoption of cloud-based computing will result in the creation of 180,000 new businesses and this figure will likely grow to close to 303,000 in 2020 across the EU.”

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Six reasons why cloud computing will transform the way banks serve clients – and the five hurdles to overcome

Six reasons why cloud computing will transform the way banks serve clients – and the five hurdles to overcome | Cloud Central | Scoop.it

By providing near-unlimited hardware and software resources on an off-the-peg, pay-as-you-go basis over the internet, cloud computing drives down costs, enables innovation and creates the flexibility to respond to change.

Peter Azzopardi's insight:

..... In a recent policy paper, the EC’s European Cloud Partnership spelt out the need to tackle issues around data, privacy security and legal differences across national boundaries.

 

Image courtesy of banking-gateway.com

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The growth of on-demand cloud computing

The growth of on-demand cloud computing | Cloud Central | Scoop.it

This HP whitepaper charts the development of the cloud on-demand computing concept and shows how important it is for addressing the demand for business agility and growth.

Peter Azzopardi's insight:

Cloud services are built around the on-demand software-as-a-service (SaaS), platform-as-a-service (PaaS) and infrastructure-as-a-service (IaaS) delivery models. ......

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European Commission : CORDIS : Newsroom : Cloud computing: facilitating cutting edge collaborative research

European Commission : CORDIS : Newsroom : Cloud computing: facilitating cutting edge collaborative research | Cloud Central | Scoop.it

Cloud computing - where storage facilities are provided on demand over the internet from shared data centres - enables effective research collaboration to blossom. Rather than having to purchase a cluster of computers or struggle to find space at the lab, researchers can outsource their computing storage needs to remote facilities in the cloud and make this data accessible to colleagues.

Peter Azzopardi's insight:

CERN's computing capacity needs to keep up with the enormous amount of data coming from the Large Hadron Collider and we see Helix Nebula as a great way of working with industry to meet this challenge,' said Frédéric Hemmer, head of CERN's IT department.

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Net neutrality law adopted by European Parliament

Net neutrality law adopted by European Parliament | Cloud Central | Scoop.it

It would also prohibit mobile networks and broadband providers from blocking services - such as WhatApp messages or Google Drive storage - that compete with their own offerings.

Peter Azzopardi's insight:

In addition, the European Parliament voted to scrap roaming fees (calls and data) charged for using a mobile phone while abroad within the EU.

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How to implement incident reporting in cloud computing

How to implement incident reporting in cloud computing | Cloud Central | Scoop.it

Cloud security incidents often catch the media’s attention as they affect large number of users. For example, recently a large storage service provider suffered an outage lasting two days.

Peter Azzopardi's insight:

A new report looks at four different cloud computing scenarios and investigates how incident reporting schemes could be set up.

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How is cloud computing enhancing our ability to work anywhere?

How is cloud computing enhancing our ability to work anywhere? | Cloud Central | Scoop.it
All the best insights from our last live discussion on mobility in the cloud and flexible working
Peter Azzopardi's insight:

Businesses must own company data: I've seen a big trend towards COPE (corporate owned, privately enabled) from BYOD as the data issue is becoming a real challenge.

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Senad Dizdar's curator insight, December 20, 2013 10:24 AM

Where are you taking your cloud?

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EU urges cloud computing uptake despite PRISM fallout

EU urges cloud computing uptake despite PRISM fallout | Cloud Central | Scoop.it
Benefits of technology must win out over privacy fears
Peter Azzopardi's insight:

PRISM was a case for the sort of vulnerability that the Public Cloud suffered from. If the cloud is to be pushed as a secure environment than a Hybrid / Private cloud solution would be the best.

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European Commission : CORDIS : News : FP7 News : A boost towards secure and streamlined cloud computing

European Commission : CORDIS : News : FP7 News : A boost towards secure and streamlined cloud computing | Cloud Central | Scoop.it
CORDIS News is a daily online news service provided by the European Union's official research and innovation information service, CORDIS.
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EU based project towards a secure storage solution.

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Cloudbizz's curator insight, September 9, 2013 3:30 AM

"Surveys show that 80% of businesses already using the cloud have reported a 10% to 20% reduction in IT costs."

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Insurers lagging on cloud cover

Insurers lagging on cloud cover | Cloud Central | Scoop.it
Cloud computing presents businesses with a new set of risks the insurance sector is finding hard to comprehend.
Peter Azzopardi's insight:

"‘In the past the cloud has been seen as something just ‘out there’ – beyond jurisdiction. That is completely wrong. Rather than escaping from jurisdiction in the cloud, you are actually subject to many jurisdictions. And those jurisdictions might not be what you expect.’’

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INFOGRAPHIC: The Amazing Cloud ATM

INFOGRAPHIC: The Amazing Cloud ATM | Cloud Central | Scoop.it
Infographic - One of the more entertaining and colorful infographics brought to out attention by CA Technologies..
Peter Azzopardi's insight:

As expected, IT management dragging their feet!!

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Cloud computing: balancing individual, business and law-enforcement interests

Cloud computing: balancing individual, business and law-enforcement interests | Cloud Central | Scoop.it
Jim Reavis explains why we must think virtually about regulating the cloud to overcome legal complexities
Peter Azzopardi's insight:

Yes to regulation but not at the expense of stifling innovation. Further, granting easy access to Governments is not going to instill much confidence in the cloud. Kim Dotcom's mega.co.nz seems to have the right idea. Files are encrypted when they are uploaded so not even Mega would know what they are storing.

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VIDEO: Cloud-Computing brings new challenges

VIDEO: Cloud-Computing brings new challenges | Cloud Central | Scoop.it
The NSA Prism spying scandal risks undermining trust in U.S. cloud computing businesses, the EC's vice-president, Neelie Kroes, has warned in a speech today. Kroes also reiterated calls for "clarity and transparency" from the U.S. regarding the scope...
Peter Azzopardi's insight:

In order for cloud-computing not to be a legal jungle the big players are using open-source software, the license-free method for a creating a product.

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EU Announces Guidelines to Standardize Cloud Computing Agreements

In an effort to meet one of the key objectives of the European Union's Cloud Computing Strategy - to develop model terms for cloud computing contracts, including service-level...
Peter Azzopardi's insight:

Although the guidelines do not prescribe the content of Cloud SLAs, they do set forth an extensive list of terms - including definitions and descriptions

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Standardisation of cloud contracts in Europe: Coming soon to the US?

Standardisation of cloud contracts in Europe: Coming soon to the US? | Cloud Central | Scoop.it
In light of the disclosures by Edward Snowden, there has been a push towards transparency both from governments and from technology companies that have amassed data about the personal lives of citizens.
Peter Azzopardi's insight:

The Guidelines propose that SLAs should be drafted with an eye towards consistency across companies in a manner that is “business model  and technologically neutral,” with unambiguously defined terms and with a broad variety of users in mind. ......

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INFOGRAPHIC: Cloud Computing And SMEs

INFOGRAPHIC: Cloud Computing And SMEs | Cloud Central | Scoop.it
SMEs (Small/Medium Sized Enterprises) make up the bulk of businesses today. Most cloud based applications created today are geared toward the SME
Peter Azzopardi's insight:

This infographic provided courtesy of Towergate offers insights into the uses and benefits of cloud computing, as well as tips for a successful implementation.

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Why European Commission wants cloud standards and policies in Europe

Why European Commission wants cloud standards and policies in Europe | Cloud Central | Scoop.it
Cloud is key to stimulate growth and create jobs in Europe. But the region needs a single cloud market, easy policies and cloud standards to unleash its potential
Peter Azzopardi's insight:

The EU Digital Single Market is a regulatory framework that will help the region to remove national barriers to online transactions. It builds on the concept of the common market, intended to eliminate trade barriers between member states.

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Salesforce to open three data centres in Europe

Salesforce to open three data centres in Europe | Cloud Central | Scoop.it
Salesforce is expanding its investment in Europe, in the hope of attracting more business from regulated industries
Peter Azzopardi's insight:

Salesforce is best known for its customer relationship management (CRM) software, which helps sales teams to track each individual customer -- who they are, their requirements, where they are in the sales process, recent social media activity, notes from previous calls and records of email conversations.

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Employment: European Cloud Computing Strategy to create 2.5 million new jobs

Employment: European Cloud Computing Strategy to create 2.5 million new jobs | Cloud Central | Scoop.it
All those involved in cloud computing, whether providers or customers, should follow developments in Europe in 2014 closely
Peter Azzopardi's insight:

In addition to the various activities of the European Cloud Computing Strategy, several European data protection authorities (DPAs) have recently published official guidance concerning data protection issues in relation to the use of cloud computing.

 

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How will data protection and cloud computing develop in 2014?

How will data protection and cloud computing develop in 2014? | Cloud Central | Scoop.it
From EU legislation to a US Consumer Bill of Rights, Joanne Frears outlines how data protection may evolve next year
Peter Azzopardi's insight:

2013 was a bad year for the Cloud when it comes to security and privacy. Having said this I believe the industry has learnt a lot from this and great strides are being made to ensure a far better 2014.

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EU unveils plan to end roaming charges for mobile phones

EU unveils plan to end roaming charges for mobile phones | Cloud Central | Scoop.it
The proposed law includes both “carrot-and-stick” elements to encourage mobile phone operators to remove roaming charges for customers who use mobile phones while traveling in the E.U.
Peter Azzopardi's insight:

Roaming charges especially in regards to data have always been prohibitively expensive. The EU (via Commissioner Neelie Kroes) has already done a lot to drive prices down to more affordable levels but it is still not enough. The psychological barrier still exists and will continue to weigh down on mobile usage. If the consumer is going to be made to feel comfortable enough to rely on cloud storage, wherever that might be, than the levy for being away from home must be removed entirely.

 

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Europe pushes own digital ‘cloud’ in wake of US spying scandal

Europe pushes own digital ‘cloud’ in wake of US spying scandal | Cloud Central | Scoop.it
The European Commission will redouble efforts to promote EU-based cloud services this autumn - including the urgent drafting of a new charter - amid mounting evidence that the US Prism spying scandal may damage the global market share of...
Peter Azzopardi's insight:

The EU will be trying to limit the damage to their cloud aspirations by distancing themselves from the Prism spying scanfal. Not sure how easy that will be.

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European and US cloud providers go head-to-head after NSA revelations

European and US cloud providers go head-to-head after NSA revelations | Cloud Central | Scoop.it
European cloud providers think the U.S. spy scandal will result in more enterprises choosing local alternatives over the likes of Amazon Web Services and Rackspace, which, on the other hand, are adamant that they aren't taking part in programs such...
Peter Azzopardi's insight:

It is unfortunate but the damage done to security and privacy in the cloud will effect both sides the Atlantic.

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Cloud computing uptake held back by provider terms of service and US Patriot Act concerns

Cloud computing uptake held back by provider terms of service and US Patriot Act concerns | Cloud Central | Scoop.it
Aegis Media tells V3 why it's bringing services back in-house to mitigate against growing concerns
Peter Azzopardi's insight:

The problem is there and it is not going to go away all that easily. And mind you the US is not alone in this, the EU and the UK have their own security agendas. In the end, users will need to take into consideration the registered territory of the cloud service provider.

 

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