Cloud is the basis of digital transformation also in the financial industry

Support for such processes as improving efficiency, reaching new markets and customers or optimizing costs turns out to be cloud computing. Such support is also needed by the financial industry, which is increasingly looking boldly toward the cloud.

Cost optimization at banks

By using cloud services, banks can save up to 40 percent in costs for new business projects. This is because locating resources in an external data center does not require building a dedicated IT infrastructure. In addition, cloud computing is a solution that significantly increases the flexibility and speed of delivery of novelties to the market, so it is possible to build competitive advantages.

The most successful digital transformations are said to be self-funding, with smooth implementations demonstrating clear business value. With such a business case, a transformation program can maintain momentum and build serious executive commitment across the organization.

What does cloud computing provide?

Cloud computing provides the required IT infrastructure, which is built based on customer needs and requirements. Cloud computing features unlimited scalability, which supports companies to remain agile and helps to implement changes smoothly. Companies pay only for the resources they use.

Companies often choose to move data to the cloud due to increased security and protection from threats such as cyber-attacks or uncontrolled shutdown of systems. Cloud services allow for multiple backups, which realistically reduces the risk of data loss.

Cloud in the financial industry

From the perspective of today’s companies and institutions in the financial sector, the ability to follow the cycle of innovation, implementation and testing of various solutions and services seems to be crucial. The cloud helps these processes run smoothly, without the need for complex resources and infrastructure. This allows a company to test and deploy various applications on multiple platforms for experimental projects, without having to invest in additional IT equipment.

More and more financial institutions are using the cloud computing model. – At Polcom, we are eyewitnesses to the growing popularity of the cloud. At least 10 large Polish financial institutions and several foreign ones have been maintaining their key services in our centers for many years now. These include banks and entities for which maintaining business continuity at the IT level has an impact on national economic information policy.