Many years ago, when the Chairman of the company I worked for at the time needed convincing that it would be OK to shift our email services out into the Cloud with Google I used this argument:
“We trust our most important asset to the Clouds run by the banks, right? There’s no cash being stuffed under mattresses. It’s all just sitting there, virtually, as bits and bytes. And sitting in a Cloud that is run by a group of institutions that have been proved to be disreputable. Who put their own interests ahead of their customers. And you worry about trusting our email to Google?”
My business banking is with HSBC. Their web services and apps have gone down. After being unavailable for most of last week too.
These days I should be thinking about how I should be trusting my actual cash to Cloud vendors, not banks. It’s all just bits and bytes, and it doesn’t seem that the traditional banks really understand how to manage or serve bits and bytes very well at all.