A Forrester study that was commission by Microsoft was able to find that the majority of financial service institutions in the Asia Pacific region, including Hong Kong, is lacking on standard knowledge of the necessary regulatory requirements when it comes to offering secure services such as mobile and cloud computing.
It was found that many still rely on old traditional methods such as in-house data servers to secure the data.
In Hong Kong particularly, it was found that the country still heavily relies on traditional methods while ignoring innovation. There is also no form of digital transformation being adapted by the country which makes them lag behind others.
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