BEIJING--()--With the continuous growth of China?s economy over the recent years, the small- and medium-sized financial institutions have also witnessed rapid development. According to statistics of China Banking Regulatory Commission, the urban commercial banks and rural financial institutions have outplayed the large state-owned commercial banks in terms of total assets growth rate in recent years. By the end of December 2011, the total assets of urban commercial banks registered a year-on-year growth rate of 26.6%, much higher than that of state-owned commercial banks, which was 16.8% year-on-year.
The rapid development of small and medium-sized financial institutions has boosted the development of IT application in the financial industry. As small and medium-sized financial institutions need to reduce investment costs and accelerate their own business development, building the public cloud will undoubtedly be the best choice, which will be a new type of data center outsourcing service. Various application platforms will provide all kinds of settlement services for small and medium-sized banks, saving them from building application systems on their own. In this case, the small and medium-sized financial enterprises no longer have to build data centers and they can throw all technical problems with software and hardware to the cloud computing service providers. Besides, the use-on-demand and pay-per-use delivery model can also significantly cut the construction and operation costs.
According to statistics of CCID Consulting, China?s financial application of cloud computing yielded a revenue of RMB 15.62 in 2011, up 48.2% year-on-year and accounting for 9.5% of overall cloud computing application market. The small and medium-sized financial institutions, contributing 20% of the revenue, are an important force in promoting the rapid development of cloud computing application in the financial industry. For instance, banks in villages and towns of Jiangsu, Henan and other provinces and cities have carried out informatization construction through managed cloud services. Thealliance of urban commercial banks of Shandong Province also actively deployed cloud service platforms for its 14 member banks, providing unified IT system and product development, data operation maintenance, gross settlement and business operation platform services.
Figure Market Size and Growth of the Financial Cloud Computing Application Market in China, 2010-2011
http://event.ccidconsulting.com/en/images/en-0828-1.jpg
Source: CCID Consulting, February 2012
In the future, with the further development of these institutions and further improvement of informatization applications, the informatization construction will enter a stage of IT resource integration; the demand for cloud computing application services will also be enhanced to realize unified management of IT resources and interconnection of all heterogeneous systems through IaaS, PaaS and SaaS etc. Over 100 small and medium-sized urban commercial banks and more than 3,000 rural banking principals (including new rural financial institutions) have formed a strong potential customer base in the market.
However, CCID Consulting holds that users, restricted by cloud computing security and the highly sensitive risk control issues, will be cautious in the adoption of such applications. They will probably start from periphery applications and gradually approach the core application systems to finally achieve an extensive application of cloud computing in the informatization of the financial industry.
About CCID Consulting Co., Ltd.
CCID Consulting Co., Ltd., the first Chinese consulting firm listed in the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong (HKSE: 08235) and the first consulting firm which gets ISO 9001 international and national quality management system standard certification, is directly affiliated to China Center for Information Industry Development (hereinafter known as CCID Group). Headquartered in Beijing, CCID Consulting has so far set up branch offices in Shanghai, Guangzhou, Shenzhen, Xi?an, Wuhan and Nanjing with over 300 professional consultants. The company?s business scope has covered over 200 large and medium-sized cities in China. CCID Consulting provides customers with public policy establishment, industry competitiveness upgrade, development strategy and planning, marketing strategy and research, HR management, IT programming and management services, investment and financing, and M&A. The company's customers range from government departments at all levels and diversified industrial parks, to industrial users in strategic emerging industries in new generation information technology, energy saving and environmental protection, biological science and technology, high-end equipment manufacturing, new materials, and new energy. CCID Consulting commits itself to become the No. 1 advisor for urban economy, the No.1 consultancy for enterprise management, and the No. 1 branch for informatization consulting in China.
Source: http://feeds.businesswire.com/click.phdo?i=66cef02cc62e7bad9f6532788f80a088
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