Cloud Solutions are becoming the safest path to innovation
The Big Data Revolution has considerably accelerated the adoption of innovative digital solutions across industries, allowing improved capacity to handle data. Among the emerging innovative digital solutions and most transformative ones, is cloud computing. With cloud, information travel rapidly in both directions, across computing systems that, with attributeas like virtualization, scale up or down to handle bigger workloads.
The IT industry broke the concept into three categories:
1. Software as a Service (SaaS) – software is owned, delivered and managed remotely by one or more providers.
2. Infrastructure as a Service (IaaS) – compute resources, complemented by storage and networking capabilities are owned, hosted by providers, and available to customers’ on-demand.
3. Platform as a Service (PaaS) – the broad collection of application infrastructure (middleware) services.
Cloud Computing has indeed emerged as a new era in IT and while concerns around security and organizational structures are still being raised, the banking industry is cautiously positioning itself in the cloud environment, envisioning enhanced capacity and an unrivalled level of agility, security and scalability. Why? Because the dramatic changes taking place in banking require new ways to maximise profitability and returns and cloud technology is now offering secure deployment options that can help banks develop new customer experiences, enable effective collaboration and improve speed to market – all while increasing IT efficiency. In fact, because banks also need to reduce their costs, they are now more open to resource optimization through technology, such as AI, Robot Process Automation (RPA), which hence requires a BPR exercise.