Annual CSI Survey Highlights Expansion of Cloud Technology Adoption and IT Outsourcing Trends
August 06 2014 - 9:00AM
Business Wire
As technology capabilities continue to advance, financial
institutions must manage the intricacies of implementing a
strategic, all-encompassing IT infrastructure to meet their unique
needs. In order to provide banks and credit unions with deeper
insight into how the industry is addressing the latest cloud and
managed services offerings, Computer Services, Inc. (CSI) (OTCQX:
CSVI), a provider of end-to-end technology solutions that empower
financial institutions to remain competitive, compliant and
profitable, has published the results of its third annual survey in
its Executive Report: Cloud Technology and IT Outsourcing
Trends.
This year’s report points to several key trends in the use of
cloud technology and IT outsourcing, as well as a continued
increase from respondents in the value and benefits hosted
solutions provide today’s financial institutions.
Offering data from more than 140 respondents nationwide, the
results of CSI’s 2014 cloud technology and IT outsourcing survey
provide current insight on the use of these services from
executives and senior IT management at various financial
institutions. Responses were collected across such key areas as IT
services currently outsourced, percentage of IT assets targeted for
cloud migration, greatest concerns regarding cloud computing in
banking and more.
“A successful transition to the cloud requires financial
institutions to first understand the available technology offerings
and how they will affect their overall IT strategy,” says Steve
Powless, chief executive officer of CSI. “By consistently surveying
the industry to uncover the latest trends and concerns, we aim to
assist banks and credit unions in making the right choice to
fulfill their unique business goals.”
Key report highlights include:
- Based on their current use of financial
cloud technology and services, respondents reported increases in
all areas of recognized benefits, with percentage gains ranging
from 20 percent to 203 percent in comparison to 2013 ratings.
- For the third consecutive year, the
number of financial institutions fully outsourcing IT has
increased, reaching 16.1 percent for 2014. On the other end of the
spectrum, organizations that reported no outsourced IT services
dropped from 14.9 percent to 10.2 percent between 2013 and
2014.
- While respondents indicated lower
levels of concern in regard to cloud migration as a whole, security
and compliance remain the top concerns, although they dropped from
75.2 percent in 2013 to 58.1 percent in 2014.
“With so many new technologies available to today’s financial
industry, institutions are now turning to technology partners that
can both provide and manage these increasingly complex
infrastructures through their skilled resources and support
systems,” Powless says. “Our goal as an organization is to simplify
cloud and bank IT outsourcing through our suite of managed service
offerings and knowledge of the current industry trends gathered
from our annual survey.”
CSI published the full survey results, along with expert
analysis of key trends, in an executive report, available for free
download at www.csiweb.com/cloudtrends.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed
services, mobile and Internet solutions, payments processing, print
and electronic distribution, and regulatory compliance solutions to
financial institutions and corporate customers across the nation.
Exceptional service, dynamic solutions and superior results are the
foundation of CSI’s reputation and have resulted in the company’s
inclusion in such top industry-wide rankings as the FinTech 100,
Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service
Providers List. CSI’s stock is traded on OTCQX under the symbol
CSVI. For more information about CSI, visit www.csiweb.com.
For CSIBrandon Dyce, 615-545-1675orDavid Jones,
678-781-7238orStephen Sprayberry, 678-781-7207
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