Easier PCI DSS and GDPR Compliance Through Cloud Computing
The financial services industry can benefit immensely from adopting cloud technology. Other industries have already gained considerable benefits out of cloud technology, which has served as a boost to faster. To embrace cloud computing the financial services industry must comply with EU General Data Protection Regulation (GDPR) rulings and the PCI DSS (Payment Card Industry Data Security Standard). This is being considered as quite a difficult task that has put off many in the financial services industry to embrace cloud computing. Cloud computing offers immense benefits including flexibility, better efficiency, and value. Flexibility enables users to scale services, customise programs/applications, and access cloud services through the internet from anywhere. Cloud computing drastically reduces the cost of infrastructure, which by itself is a major advantage. The threat to data security, migration cost, and stringent regulations have been the dampener till now. Ho...