Advantages of Cloud Computing In Banking Can’t Be Ignored

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Subscribe to The Financial Brand via email for FREE!More than ever, financial institutions need to leverage modern technology to deliver improved customer experiences, at a lower cost, in real time. This requires the collection and processing of multiple data sources and the modernization of legacy systems and outdated operating models. Without an improved infrastructure, traditional financial institutions will be ill equipped to compete with more responsive and innovative competitors. The majority of banking and financial services organizations have yet to deploy core systems to the cloud due to significant complexity and concerns over security, risk, governance and control. In fact, according to a 2020 IBM banking on open hybrid multicloud survey, “While 91% of financial institutions are actively using cloud services today (or plan to in the...