The challenges of implementing cloud computing in the South African financial sector

Abstract

This study aimed to explore the implementing challenges of cloud computing in the South African financial services sector, the interrelationships of the challenges and additional challenges. The study sought to address three questions which are as follows, (1) What are the challenges of are implementing cloud computing in the financial services sector? (2) What are the interrelationships between cloud computing challenges? (3) What are the other ranked challenges of implementing cloud computing in the financial services sector? To answer these questions, the study explored Scaled Agile Framework (SAFe), an agile and lean methodology. The framework is for scaling large organisations, including the financial services sector. According to the conceptual model, the six identified cloud computing implementation challenges were assumed to be affecting SAFe.

The conceptual model was tested based on an online survey using Qualtrics. The collected responses were analysed using Statistical Package for the Social Sciences (SPSS) software. The data analysed was from seventy-six cloud computing users from South Africa financial services sector. The research findings showed that the challenges of implement cloud computing had an impact on the South African financial services sector. Although the research questions were answered, the identified challenges of implementing cloud computing in the financial services sector were not all aligned with the opinions of the literature review. The details of the study can be used as a guide in implementing cloud computing solution in the financial services sector to reduce failure rate.