How Banks Harness the Value of Cloud for Scale and Agility
Financial services are recognizing the benefits that data-led processes can bring and are undergoing digital transformations that are putting data at the heart of their operations and decisions-making processes.
They are seizing on data as an asset whose value can be unlocked through technology to increase revenue and reduce costs across the entire enterprise. With the application of sophisticated software, data is also providing insights that are helping banks to identify new business opportunities, build more accurate risk-mitigation models and offer customers richer experiences.
It’s crucial, then, that their transformation projects are managed properly from the start. An ill-conceived strategy can cause more problems than the project initially set out to solve. It will also make rectification harder down the line.
That’s why many banks are outsourcing their transitions and data management processes to cloud-based managed service providers.
This white paper will:
- Detail what value can be extracted from data;
- Explain the downside of a poorly planned digital transformation;
- Outline how to avoid such pitfalls;
- Show how and why cloud-based solutions work best;
- Provide clear use-case examples and case studies of where transition has helped companies.