Do banks manage their own data centers?

Prior to the meltdown in our financial system and the whole sale consolidation of independent banks I would have said that most banks do not run their own data center because almost all of the smaller banks outsource that functionality. read more

The main reason for some companies to run their own data centers and even their operational side can be outsourced, is security of their data. you do not want to host exabytes of patient data in the cloud for example. read more

Companies like these choose to either maintain systems in their own data centers or to co-locate systems in the cloud -- with their own staffs running these systems. Final remarks Gartner predicts that the public cloud services market alone will grow by 18 percent in 2017 to total of $246.8 billion. read more

As for hosting, banks need reliability higher than your average data centre and they need security at an extra level as well. Some banks do use external hosting facilities but they will own their own servers. read more

JPMorgan Chase is negotiating with a town in New York State to purchase a large property for a bank data center. The company has offered $7.5 million for the 60-acre property in Orangeburg, which used to be the site of the Rockland Psychiatric Center, city officials told the local news outlet The Journal News. read more