Financial institutions have embraced digital innovation at a recorded pace to adopt new ways of working, serving the financial needs of customers, and keeping the markets performing. Moreover, they have done so while still operating within their control frameworks and regulatory requirements needed to serve in all parts of the world.
According to the 2020 Frost and Sullivan Global Cloud User Survey, “multi-cloud adoption has skyrocketed among financial firms in the past year, up nearly 70%. In addition, hybrid cloud adoption — already higher among financial firms than other industries — is up 8%. In response to the pandemic, financial firms are accelerating their cloud journeys, knitting together disparate IT environments (on‑premises, edge, and multiple clouds) as a foundation for digitalization.”