As CTO at Altar.io, a large part of my work revolves around observing the forward-looking industry trends (including fintech trends) that affect how we create innovative products.

The fintech industry is experiencing a paradigm shift across multiple vertices of the technology spectrum, which has been accelerated by the Coronavirus pandemic.

This has sparked a series of new fintech trends, which I have been observing throughout 2020.

Most of which are based around financial corporations moving their operations from on-premises to the cloud.

More and more financial corporations are shifting from on-premises legacy solutions to full cloud and hybrid infrastructures – for both their innovative and core/mission-critical products and services.

Moving from on-premises to the cloud allows tasks that previously took a month and a half to complete to be completed in a couple of hours. This is not the only driver behind fintech moving operations to the cloud, however.

This fintech trend also allows for

• Ease of scaling
• Resilience
• Increased Security
• Compliance
• Decreased costs
• Maintenance efficiency

Let’s take a closer look at the main drivers behind the shift from on-premises to the cloud.

#cloud-migration #cloud-infrastructure #cloud #security