Recognizing the cost and flexibility advantages of cloud, banks have been early adopters. Cloud’s ability to bypass the binding limitations of legacy systems has motivated banks to embrace cloud in their front, middle and back offices. However, despite successfully implementing cloud to improve specific functions and processes, most banks report an unwillingness to embrace cloud holistically. To gain all of the economic, strategic and financial benefits cloud affords, cloud’s footprint needs to extend further. Developing clear, robust, efficient and practical strategies and governance for hybrid cloud solutions is therefore essential.
In a recent IBM Institute for Business Value survey, banks report a clear intention to maintain many workloads on dedicated, on-premise servers. Why? Bankers cite a lack of relevant in-house cloud skill sets, regulatory challenges and security concerns among their top reasons. With this enduring environment of on-premise and cloud solutions, development of robust strategies and effective governance is critical to profitably manage banking’s hybrid cloud solutions.
This executive report explores the specific intentions, opportunities and concerns of banking leaders around the world regarding hybrid cloud adoption. It identifies alternative scenarios and provides a practical set of recommendations to accelerate and strengthen bank strategies for hybrid cloud.