Financial Institutions And Cloud Computing: An Update From OSFI On Guideline B-10 - Reading Their Message Between The Lines

It would not be an exaggeration to say that a number of technology companies (and their customers) see Cloud Computing as an important development on the question of how to store ever increasing amounts of data at a reasonable price and at the same time permit the accessing of that data in an efficient manner. Not only will Cloud Computing affect consumers (witness the number of consumers who already use Apple's recently introduced iCloud to store and access their music, videos and pictures) but Cloud Computing is also very attractive to large financial institutions which have significant storage and access issues associated with running such large businesses and therefore routinely outsource these technology services to third parties.