Cloud-based disruptions highlight risks for SA Financial Services

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South Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.

Upsides of Social Media MarketingNew Web Hosting Pioneer Emerges, Offering Affordable Hosting Solutions Coupled with…Over the past month, multiple ‘undersea events’ impacting fibre optic cables off the coast of West Africa and the Red Sea disrupted business as usual in South Africa. These cables connect the country, and continent, to far-away cloud-based servers.

“Cloud-based SaaS applications are undeniably the wave of the future.” says Guy Krige, Executive Risk Consultant at ESCROWSURE. Investment in South African data centres is scaling rapidly with Amazon Web Services establishing its African hosting headquarters in Cape Town and a projected capex of R46-billion by 2029. South African banks and insurers, as well as many others, are already deeply dependent on distant CSP’s and their third-party SaaS service providers.

 

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