CommBank rules out public cloud storage

 

Analytics an in-house operation.

The Commonwealth Bank has ruled out storing customer data in a public cloud, regardless of whether that cloud is locally hosted or offshore.

Speaking on a panel at the Gartner Business Intelligence and Information Management Summit in Sydney, CommBank's manager of information systems and frontline analytics, David Tannis, said his company wasn't in the business of handing over customer information to a cloud storage vendor.

"The policy needs to be clear," said Tannis. "We like our data managed by the company, for the customers and kept here in Australia."

The policy drew a strong response from Timo Elliott, innovation lead for SAP's analytics products.

Elliott said companies need to be aware their confidential data is already being placed into the public cloud, and is generally traversing the public internet in clear, unencrypted communications.

"I'd say 100 percent of companies already have their information in the cloud," noted Elliott. "People are given a lot of access to corporate information as part of their day to day jobs, and they're doing things like storing it in Dropbox so they can access it later."

He also commented the vast majority of corporate communications is carried out via email, with attached files or confidential information carried in the body of the message. This leaves the email open to interception, he said.

A third panel member, Henry Sedden, from analytics firm Qlikview, said most companies would not want to store confidential or customer data in the public cloud for security and legislative reasons.

"I think most companies would run a mile at the idea," he said.

Copyright © iTnews.com.au . All rights reserved.


CommBank rules out public cloud storage
 
 
 
Top Stories
Making a case for collaboration
[Blog post] Tap into your company’s people power.
 
Five zero-cost ways to improve MySQL performance
How to easily boost MySQL throughput by up to 5x.
 
Tracking the year of CIO churn
[Blog post] Who shone through in 12 months of disruption?
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Which is the most prevalent cyber attack method your organisation faces?




   |   View results
Phishing and social engineering
  69%
 
Advanced persistent threats
  3%
 
Unpatched or unsupported software vulnerabilities
  10%
 
Denial of service attacks
  6%
 
Insider threats
  11%
TOTAL VOTES: 1088

Vote