IDC Market Spotlight: Cloud as a Strategic Technology to Drive Bank Transformation
IDC MARKET SPOTLIGHT
Cloud as a Strategic Technology to Drive Bank Transformation
This Market Spotlight report reviews IDC Financial Insights on: recent cloud research; how cloud is positioned to address strategic banking initiatives; and the challenges of cloud adoption. The report concludes with how technologies available today support banking transformation to become healthier and more profitable.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market.
The banking industry has begun a transformation that will fundamentally change its ability to significantly grow while reducing organizational risk. The economic crisis of 2008 left little doubt that to survive into the next decade, banks have to look at how technology adds value to the whole enterprise, not just to individual lines of business. And cloud is a critical part of a bank's ability to transform and become more responsive to the needs of the market.
According to IDC survey data and conversations with today's IT executives in banking, institutions are undertaking three strategic initiatives to accomplish their business transformation:
- Enterprise risk management and compliance
- Customer (re)engagement
Cloud technologies are uniquely positioned to address the strategic initiatives described above. And because of the reusability and foundational aspects of cloud, it promises to open the door for future innovation as well.
Download the full report to read further about how Enterpise Risk Management and Compliance, Customer (re)Engagement and Innovation can be influenced by Cloud.