3 Trends and Drivers for Adopting Cloud Infrastructure

| November 8, 2019

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We’re at a fascinating moment in the financial services sector’s adoption of cloud technology. Industry reports highlight the unequal pace of change between early adopters and those who are slower to investigate the cloud route – often due to a perceived lack of data security and control. In this post, Fenergo’s VP Client Operations, Colin Sweeney, explores the trends and key drivers for adopting a cloud-based infrastructure in financial services. A recent report from Aite Industry Analysts estimates that the majority of global tier-one firms have less than 10% of their total technology stack hosted in a public cloud environment. At the same time, we’re seeing some major banks report huge success with their cloud programs. Take Bank of America’s Cloud Project, for example, which has been running since 2013. The bank estimates it has saved $2.1 billion in infrastructure costs. So, for financial institutions (FIs) that have a clear objective for migrating to the cloud and a strategy to achieve it, there are demonstrable business benefits. There are three key trends and drivers behind the use of cloud technology in today’s financial institutions:

Spotlight

AmZetta Technologies Private Limited

AmZetta Technologies engineers and manufactures various hardware and software solutions for modern business IT infrastructure. Established in 2019 by President & CEO S. Shankar, who also founded American Megatrends, Inc. (AMI) in 1985, AmZetta Technologies boasts a team of highly skilled engineers with centuries of cumulative experience innovating successful cutting-edge technology for OEMs, businesses and enterprises alike.

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