Regulation, KYC Utilities, Data Storage and Analytics Needs Will Create Cloud Data Surge By 2020, Says Colt/Celent Report
The report cites KYC utilities and managed services for regulatory compliance as driving future cloud adoption.
The report cites the "plethora of new regulation," and especially increased reporting requirements, as driving the creation of managed services to help firms comply with current and future requirements. In addition, the report noted existing initiatives to leverage the cloud to provide managed services for KYC (know your customer) due diligence, and described the emergence of third-party utility models for KYC, swaps data reporting and MiFID II compliance as "a further evolution in the managed
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