Recently, I found this article in RBS Insight hub: How the cloud will reshape transaction banking. I have no doubt, this makes perfect sense for many transaction-oriented systems.
Then I read
What is cloud computing?Cloud computing lets people use the internet to tap into hardware, software and a range of
related services on demand from powerful computers usually based in remote locations.
Successfully enabling the widespread adoption of cloud computing could add EUR 250 billion to European GDP by 2020, thanks to greater innovation and productivity, according to research conducted by International Data Corporation on behalf of the EC. Nearly four million new jobs could be created as a result.
How can one make such a forecast?This would amount to more than 3.8 million new jobs, although this number does not include jobs lost to cloud-related business reorganisations and productivity gains.
Is the cloud what risk managers should be thankful for?
Over the years regulatory and business requirements have driven financial institutions to take leading positions in technology, implementing new sophisticated features and automated analytics solutions that are widely accessible.
UnRisk has all technologies to run at a cloud - for development we offer webUnRisk, and the UnRisk FACTORY has a web front-end. Both can be seamlessly combined. But, which clouds run our advanced technologies to make our business shining?
But also due to the data and security issues, I rather believe advanced risk management systems will run on "on-site of financial institutions clouds", providing access via the intranet and selected clients, business partners, … There we take care that our technologies run.
However, Quant jobs will not end in a cloud. Nor will ours.