Wall Street's adoption of the public cloud includes critical questions around how many providers to work with.
. As it is, just 20% of respondents said they've moved that much to the public cloud.
Amazon, Microsoft, and Google are all also eager to see where Wall Street lands on its public-cloud approach. In general, all three companies want to work with larger corporations, which represent big revenue opportunities. And while Amazon holds the most market share thanks to its early-mover advantage, there remain plenty of areas for Microsoft and Google to pick up business as banks shift more of their software and services into the public cloud.
One of the biggest reasons a firm might choose to work with just a single cloud company comes down to data. Tools that require the use of large data sets are difficult to manage across several clouds since the data needs to be replicated multiple times in each cloud, which is a costly and complex process.
One route that banks can take is using an abstraction layer that sits between themselves and the public cloud, allowing them to move applications between different providers. While there are commercial offerings in the space, such as Cloud Foundry and OpenShift, banks often opt to try and create their own abstraction layer internally.
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