Abstract:

Financial services Industry lags in adopting Cloud computing technology amongst all industries due to privacy, security and several regulatory concerns. The research is based on qualitative analysis techniques for cloud adoption risk assessment leading to decision making based on acceptable risk response. The evaluation on how suitable the implementation of our proposed Return on Investment (ROI) based Risk Assessment Framework would be useful in determining SaaS adoption feasibility within the financial services industry focusing on the main impediments that include privacy, security and regulatory burden. This paper will focus on proposing a new risk assessment approach that is most suitable to increase cloud computing adoption within the financial service industry by taking into account ROI.