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92% of domestic financial firms have adopted public cloud services, and among them, 53% are using Amazon Web Services (AWS). AWS held a press conference on the 16th at the Centerfield in Yeoksam, Seoul, to announce this.

In collaboration with market research firm IEC, AWS conducted a study on the usage of cloud services in the Korean financial sector, finding that 92% of domestic financial institutions are utilizing public clouds. Public cloud is a cloud computing service that can be accessed by anyone via the internet, eliminating the need to purchase servers or equipment directly, which means there are no initial expenses.

According to the survey, 64% of financial firms responded that they are currently utilizing the cloud or planning to increase their budgets related to it. In particular, 53% of the responding financial firms indicated they chose AWS.

The main factors that financial firms consider when selecting a cloud provider are compliance with security regulations (42%), availability and disaster recovery capabilities (41%), and product roadmap (39%). Additionally, AWS mentioned the status of AI adoption and utilization in the Korean financial sector, including automating compliance with regulatory reviews, preventing financial fraud, personalized marketing, and advanced data analytics.

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