Boston, October 1, 2013 – Cloud computing, a model for provisioning IT capabilities on a need-only basis, is fast becoming a viable option for banks, where a flexible, modern IT infrastructure can mean the difference between success and failure. Whether cloud computing is a truly innovative revolution or merely the next step in the space's technological evolution, cloud computing providers are helping banks to up their games. But how are clouds categorized, and what cloud deployments are likely to be used by financial institutions? What functional areas are being considered for cloud-based investments? And what should financial institutions consider when deploying cloud-based solutions?
Based on a Q1 and Q2 2013 Aite Group survey of 29 senior IT executives at financial institutions around the globe, this Impact Report by senior analyst David Albertazzi examines bank IT executives' views of how cloud computing is evolving and revolutionizing the landscape. It outlines a number of factors driving change in the banking IT infrastructure, considers the various functional areas and perceived risks of cloud solutions, and makes recommendations for financial institutions and vendors participating in the financial technology market.
This 32-page Impact Report contains 15 figures and two tables. Clients of Aite Group's Retail Banking or Wholesale Banking services can download the report .