Financial services systems are expected to provide exceptional performance—even as the demands for innovation, agility, and responsiveness grow. Yet according to a recent McKinsey survey, only 13% of financial services companies have half or more of their IT footprint in the cloud.1 Many banks today still rely on antiquated, onpremises hardware and software applications that are difficult to revamp or retire.
Banking systems are built for volume, availability, and security, but this doesn’t make them easy to operate or modify. Therefore, to move forward and capture the benefits of shifting from premises-based systems to the cloud, banks are looking at a new way of operating.