White paper: Cloud momentum is building in retail banking
For retail banks entering a post COVID-19 world, the only way is cloud. Today, the world’s most disruptive banks are in the cloud. For newcomer banks, cloud has been the only option for some time – and the same is increasingly true for established banks as well. Why? Because cloud is not only disruptive in its own right, but also provides the foundation for harnessing other emerging technologies.
As the COVID-19 crisis continues to play out, the need for banks to transform digitally using cloud is accelerating by the day. To do this, banks must steer their operations toward a new operating model. One that delivers a highly relevant customer experiences, provides easy access to innovation, and reduces total cost of ownership (TCO) without the burden of managing security and infrastructure. The way to achieve all this? Cloud. And banks worldwide are getting the message.
According to Gartner, by 2022 some 28% of enterprises will be using the cloud to support more than half of their transactional systems of record. And with the global computing market growing at 17% compounded annually, it’s projected to reach US $299 billion this year. However, this projection was made before COVID-19, which has dramatically increased the urgency of digital transformation. Today, cloud adoption is growing faster than anybody ever envisaged – one of the biggest shifts in decades in banking and banking technology. But why is cloud the way forward? Are you ready for it? And how to navigate the journey?
Please contact the FinTech Futures team to get this free white paper.
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