Community
While historically, banks have been guilty of slacking when it comes to technological evolution, digital disruption has woken them to a harsh reality. If banks don’t get to where their customers are, new-age competition and those leading the way will do so, and in the process mop the marketplace with the erstwhile giants.
It is this race for survival that has had banks turn their heads to cloud, especially public cloud as a means to the end. Even in the recent past, most banks were content with moving non-critical and non-core workloads to the cloud. How did the resistance to cloud diminish?
A lot of what has changed in the past year or two can be attributed not just to the competition in the banking space, but also the fact that Cloud has itself evolved:
Here’s how we expect the banking-on-cloud trend to play out in 2020 and beyond:
All said and done, single tenant will still be safe haven for banks due to confidential information and compliance. So how will banks reconcile with new environmental realities? How safe is the bet that Public Cloud IaaS and PaaS will grow multi-fold in the next two years? The biggest question is – will it really happen?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Katherine Chan CEO at Juice
28 March
Sergiy Fitsak Managing Director, Fintech Expert at Softjourn
27 March
Naina Rajgopalan Content Head at Freo
Ruchi Rathor Founder at Payomatix Technologies
26 March
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.