ANALYST REPORT

Fast-Moving Clouds: Accelerated Cloud Journey for Financial Services Digital Transformation

This IDC Roundtable at a Glance provides insights fromIDC Financial Insights’ Cloud Council for Financial Services. IDC presented and facilitated the sharing from six of Asia’s leading cloud-first adopters and practitioners. They shared knowledge, best practices, and viewpoints of cloud for banking and insurance. Cloud will continue to be a significant foundational pillar for collaboration, innovation, and transformation for financial services for the foreseeable future. Over the past 18 months, more organizations have pivoted to cloud services for more secure, scalable, resilient, and available IT services. IDC Financial Insights assists Asia/Pacific FSIs on their cloud journey through continued collaboration, research, and advisory services.

Five research and key discussion points were shared:

  • Hybrid and multicloud—definitions and relevance for FSIs
  • Software as a service (SaaS)-first as a key strategy for banks to deliver maximum business value
  • Top concerns of legacy workload migration, and how to architect one’s cloud journey for success
  • Standardization as a first step and what it entails
  • Operational challenges and the promise of a single control plane