Boston, December 2, 2021 –The cloud has been hailed as one of the great innovations of the last decade, enabling firms to wrangle swaths of data that have become available in the last few years. The cloud’s scalability and flexibility have ensured greater speed and scale for heavy-compute consumers. However, banks have struggled with the cost and priority of regulatory compliance and still face hurdles such as a persistently low interest rate environment and volatile earnings and profitability.

This report discusses what needs to happen to bring the shift to the cloud into the discussion at banks and why on-premises legacy systems may or may not be preferred. It is based on Aite-Novarica Group’s qualitative interviews with 20 participants across four regions and 15 countries in Q3 and Q4 2021.

This 28-page Impact Report contains six figures and two tables. Clients of Aite-Novarica Group’s Capital Markets service can download this report and the corresponding charts.

This report mentions Amazon, Google, and Microsoft.