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There are some real basics that I still feel all but one Cloud provider struggle with to give a bank comfort. You have to take into consideration a few things, 

1. Where is my data at rest, where is it replicated?

2. What pathways are used for data in transit?

3. How is public internet infrastructure used by my Cloud provider

4, Does the Cloud provider meet the regulatory demands that could be placed on them (right to inspect for example). 

5. Does my Cloud provide have sufficient policies and processes in place to enable all of the above - and are they able to prove this at an audit

In my experience, only Azure meets all of these 5 points - and it is probably why Microsoft is doubling down with its extended Azure vision, financial services cloud (which is Azure with additional apps). 

It makes zero sense for a bank to operate "on-prem" anymore, there is no way they can compete with the investment made into availability/DR. performance, storage and security, let alone deliver on the flexibility and additional capabilities that cloud computing models brings. (Maybe Facebook needs to have a re-think too).

Just as we start to understand the possibilities of APIs in the financial services sector, we have to start realising that tech firms rarely now connect directly to APIs, rather orchestration and event models are used to remove dependencies on direct API interfaces....

I hope that the financial services sector gets to grip with event models and orchestration sooner rather than later, if they don't they will soon be finding out that their API world is actually a mini-disc moment...

As we move to a world that should be more eco conscious, understanding the carbon footprint of who you spend your money with will be a key tool to making us more environmentally friendly (us as consumers and us as businesses). 

This initiative is an early step, but I can see a future where we understand and can verify the green credentials of entire supply chains

Fab news and great to see Microsoft further enabling financial services.

I have said for a long time that Microsoft is the only cloud provider that fully gets the rigor that is placed on financial service companies. They fully understand what regulators expect of the institutions they oversee and it is frankly why I have yet to find a realistic alternative to to Azure when building financial service institutions or infrastructure in the cloud....

@David I think Starling is a more complex business than Monzo. Monzo needs to simplify its operations IMHO but expand its offering. It needs to be more aligned to delivering actual banking services if it is to be a full bank. 

This is sad news, but isn't a massive surprise...

This could be a good opportunity for Monzo to re-evaluate some of its operational models, consolidate and focus its proposition a little more - and then really press on with that expansion plan...It's a fab vision, fab product and the banking sector needs Monzo

CBDCs could very well have a key role to play in the future of how we all transact with each other. However, there are so many unknowns, questions to be answered which will lead to yet more questions. In addition, we have to make policy decisions that maywell influence technical solutions - so yet more unknowns.

I firmly believe CBDCs have a role to play in the future, but not necessarily as we envision them today. Retail CBDC is a massive leap away from how the economy works today - investigating that use case is the same as boiling the ocean. I would prefer a far more focussed and smaller use case approach, that way we can limit the unknowns, limit the number of additional questions and look to formulate a real strategic approach to a CBDC solution in that use case....

We are entering exciting times. The future of money is actually a wider discussion, its the future of infrastructure, the future of cooperation and intereopability - platforms, networks and process all have to be looked at. CBDC may well have a telling part to play, but we must remember, money is not the issue, its all the other issues of handling it which is the challenge. CBDC is part of a possible solution, a smaller cog in an industry wide re-vamp.... 

Shame the FCA doesnt take action against banks and bankers (traders) who purposfully missell products to organisations, forcing them into adminsitration and walk away making a mint...

This is a serious issue of purposfully defaulting, but as I say, it's far more damaging to the economy and our industry, that cultural issues are left un-addressed. 

This makes a lot of sense - BaaS enables them to get a foothold in europe, improve their tech in this region and support the growing fintech scene which is better served in the UK

Valuation up again then for Starling...