Technology Trends - Cloud Computing
Cloud computing in financial services has been discussed for a while now and will come of age in banking in 2011. This is down to a focus upon cost management and moving to operational rather than capital expenditure for services as required.
This is a critical point this year, and is even more critical as no bank can be constrained in their ability to respond to change in 2011. Any bank with systems constraints today will need to break out of those chains.
This is a major focal point as the uncertain regulatory agenda becomes even more fragmented and frictionful. As a result of this agenda, banks will be snowed under the weight of organisational, process and systems changes required to keep up and therefore business agility will continue to be the mantra.
Any bank that cannot create new applications for offering and delivering new services and experiences for their customers; dealing with their workflows and processes for their staff; reporting and profiling their operational management for their management; auditing and monitoring their processes for their regulators; and delivering all of this in real-time, will find that they do not have the systems excellence to keep up with the demands of 21st century banking.
This is why 2011 is the year of the cloud.
To discuss this point, we have assembled leading experts from Microsoft, Cisco and more to debate the role and application of cloud services across the financial sector.