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Brian Traquair, EVP Financial Systems, SunGard
Brian Traquair, EVP Financial Systems, SunGard
When I started in the financial services industry, the origins of Cloud computing was referred to as time sharing (albeit with dedicated networks). The technology capability then evolved into application service provision (ASP) with internet access but defined vertical or horizontal scope. Now we have true cloud computing with universality of access, data held securely with a trusted provider and light footprint applications, or even server/application creation. The difference between the various incarnations of shared computing is the growing perception of what you can do, and the ease with which you can do it. If you wanted 100 people to share a calendar 10 years ago, you could do it but it would have taken a lot of time; now it is free and easy. Cloud computing is about having an on-demand approach to solving business problems and trusting providers to securely store and manage data. "Cloud computing allows firms to experiment more; they can try different applications and processes without large startup and operations costs" The capital markets industry is realizing the benefits of cloud computing as sell-side firms move to easier access to global applications at a lower and much more variable cost. The concerns about security are being addressed by major providers like SunGard, and that creates more confidence that the traditional captive computing served up by customer data centers and proprietary footprints can give way to more general solutions. Cloud computing allows firms to experiment more; they can try different applications and processes without large startup and operations costs. Cloud computing also provides portability, enabling diverse access to applications and data anytime from groups of users anywhere in the world. SunGard provides an on demand approach to access applications and data to help customers move away from less efficient on premise operations. SunGard has years of experience and understands the security and operational functionality that the capital markets industry needs,
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