Financial services institutions are increasingly using public Cloud Service Providers (CSPs) to host their workloads, and this has not gone unremarked by regulators. As a result, institutions that have built their strategy on a single strategic public cloud partner have cause to be concerned by new proposals aimed at eliminating concentration risk in this space.

Now is the time for companies to investigate multi and even poly cloud models in order to mitigate concentration risk, and also to revisit and test Business Continuity Plans (BCPs) while emphasizing portability and reliability. However, which cloud strategy offers the best trade-off when considering the balance of risks?

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