Why financial services can’t afford to put off cloud migration
Author
July 13, 2023
This ebook covers how financial services organizations can ensure flexibility, agility, and scalability to stay relevant in a digital-first world.
Key highlights from this ebook
More and more, financial services organizations are turning to the cloud and modern technology as a way to grow their business and generate revenue. Transitioning away from aging on-premises infrastructure has become vital to ensure success in the finance vertical.
- Only 13% of financial services firms have at least half their IT footprint in the cloud
- 20% of financial services leaders say revenue increased at least 6% within 3 years of their cloud migration
- IBM predicts at least 24% of bank’s IT budgets will be allocated to the cloud by 2024
The top 3 integration implementation challenges for finance include: legacy systems, lack of skills, and security.
For banks and financial services providers to succeed, they will need to leverage new tools and technologies to meet changing consumer demands – while also maximizing efficiency and boosting their bottom lines. Technology impacts convenience, profitability, efficiency and security in financial services.
Benefits of cloud of migration for financial services
- Enhanced customer experiences meeting the rapid response today’s client’s expect
- Improved decision-making with readily accessible, standardized data
- An edge over the competition with automation, AI, other new tech tools
- Increased efficiency of processes, decreasing the risk of human error
- Preparation for the future – the longer organizations wait to move to the cloud, the more difficult it will be to maintain legacy systems
Digibee optimizes and simplifies cloud migration
- With an established record of success helping financial services organizations quickly and painlessly move to the cloud, Digibee reduces cloud migration risks and optimizes your strategy.
