Cloud Industry Forum addresses key challenges

Financial institutions throughout the world are looking to adopt the cloud and, according to RFP Connect, the Cloud Industry Forum aims to make this process easy and secure.

The sensitive nature of financial information in the cloud has undergone much scrutiny by the CIF, which, according to CIF president Andy Burton, "was established in direct response to the evolving supply models for the delivery of software and IT services."

Burton claims that, while the cloud is enjoying a wave of popularity, it still faces some challenges that threaten to hold it back. One of the principle problems facing the cloud is public mistrust and misunderstanding of the platform. The CIF hopes to address this with its code of Standards, which are guidelines intended to help prospective cloud buyers choose the platform that is right for them, stated Burton in his interview with the news source..

Burton also claims that the code has dispelled some of the fears about virtualized platforms and that the CIF's ultimate goal is to make the cloud a " trusted, sustainable and rewarding ecosystem."

The CIF is well respected in the cloud industry, as it is one of the principal standards boards dedicated to advancing the technology. Recently, it conducted a study that found nearly half of the businesses in the U.K. have already adopted some form of SaaS.