Previously, financial services and institutions have been at fault for not adapting to cloud technology. But now many of the retail banks are slowly turning towards the cloud for less risk-averse services.
But when you look back, many of the chief technology officers at various financial services were not interested in cloud technology. This is because of the perceived complexity or privacy concerns. Though few have already welcomed cloud technology, slowly the shift started to occur.
According to the latest Fenergo survey of global banks and asset management firms, almost two-thirds and 56% of the senior decision-makers stated that investing in cloud technology was their top priority. This can be a great sign for powering the technology.
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