A number of factors are creating a colossal shift in the financial services industry. The emergence and growth of new digital technologies, constantly evolving customer behaviors, and new regulatory pressures are just the tip of the iceberg.
Enter the cloud. The cloud provides financial institutions with the scale, flexibility, and risk control that not only enable them to tackle the copious changes taking place now, but it also provides an agile IT infrastructure that will enable them to rapidly evolve as the “finserv revolution” pushes on.
Despite concerns about meeting the sector’s high security and compliance standards, the benefits of the cloud are being realized and adoption is on the rise. Public cloud investments increased 32% in 2015, and the public cloud is set to become the industry’s dominant infrastructure model by 2020. Additionally, as cloud computing becomes more prevalent throughout the financial sector, a mixed strategy of leveraging both private and public clouds is emerging as the norm for most financial organizations.continue reading »