Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Banking on the cloud: How finance organisations can cash in on innovation

10/12/2015 by

W1siziisijiwmtuvmtivmtavmtyvndgvndgvnji1l2nsb3vklmpwzyjdlfsiccisinrodw1iiiwinjawedqwmfx1mdazzsjdxq

Never before have financial institutions had to face such a slew of competitors, many of which aren’t even banks: Google, Apple, PayPal, and so on. And the problem is that consumers are increasingly valuing what these digital, ‘non-bank banks’ have to offer.

In a bid to remain relevant, many financial institutions are turning to the cloud; using it as a tool to innovate, digitalise and fend off competitors.

According to a report by CBI and PWC, UK financial services companies are expected to spend 75 per cent more on technology in 2015. Specifically looking at cloud spend, our own Cloud Reality Check research found that FS organisations plan to increase their budget by seven per cent over the next three years (23 per cent to 30 per cent); accounting for nearly a third of their corporate IT budgets by 2018.

And it is easy to understand why. The benefits of the cloud seem undeniable; scalability, reduced capital expenditure, ubiquity and outsourced management of cloud services all promise to make it possible for IT to meet the digital demands of the business. Applications can move from the sandbox to global production in a matter of days, rather than weeks or months.

However, despite this, we found that 34 per cent of finance IT decision makers agree that cloud technology in their organisation is failing to live up to its potential. We’ve also seen it slip into the ‘Trough of Disillusionment’, based on Gartner’s latest Emerging Technologies Hype Cycle. Security, compliance and governance are all known issues which can block finance companies adopting cloud. However, although it’s not voiced as a big barrier to cloud, complexity is actually causing IT departments significant frustrations as well.

This article has been extracted from http://www.itproportal.com, please click on this link to read the article in full http://www.itproportal.com/2015/12/10/banking-on-cloud-how-finance-organisations-can-cash-in-innovation/

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdevmjavmtavntyvmtkvnzgzl0nsts5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Salesforce moves into Seattle with new engine...

2017-01-20 10:00:00 +0000

Salesforce, a world leader in customer relationship management (CRM) solutions, has revealed that it is to open an innovation and engineering hub in Seattle. In order to increase the firm’s presence in the city, Salesforce Co-Founder Parker Harris said that the office located in Bellevue’s Nine Two Nine Office Tower will focus on its artificial intelligence (AI) initiatives. One reason for the move is so that the firm can access a new pool of talent. Ta...

W1siziisijiwmtcvmdevmtgvmdkvmtqvmzmvmzk5l0vsuc5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Sage bolsters X3 business ERP solution

2017-01-18 09:00:00 +0000

Sage, one of the global leaders in enterprise resource planning (ERP) solutions, has revealed that it has signed up a trio of new clients to its X3 business solution. With the Salesforce.com partner wanting to be able to show its ability to host larger clients, the firm revealed that BrightBridge, Atlas Cloud and CLOUT are all now utilising the new and emerging X3 ERP platform. Sage Vice President of UK Enterprise David Watts talked about the latest agr...