Cloud Concentration Risk: Will this be our next systemic risk event?
The adoption of cloud computing in the financial services sector has grown substantially in the past three years on a global basis. Diversification of risk is always a key concern for financial institutions and the seeming safety of having a single cloud provider is not being properly measured from a systemic risk and operational risk perspective. One of the key advantages of having the Cloudera platform as your Big Data and Analytics foundation is that we enable our customers to have a flexible cloud strategy. Cloudera enables workloads to be moved across clouds or to on-premise clusters, preventing cloud lock-in and ensuring diversification of cloud platform risks.