global survey of senior technologists and market data managers within the financial services sector has revealed that security is no longer a major concern for financial firms as they move business towards the public cloud. 

Of the firms surveyed, 82% believed that the need for greater security would help towards take up of the cloud, with only 12% indicating it as a factor in inhibiting its adoption. 

Financial institutions are seeing the cloud as key technology for managing their financial data, with many planning to increase their investment from 30% of IT budgets to 47% by 2019. 

The Thomson Reuters survey also found that the three main concerns when using the cloud were: data residency, data privacy and losing control over data.