Cloud-Enabled Core Banking

Timing is everything when designing solutions for banks. While the quality of a solution greatly determines its strategic success, timing can be at least as important. Here we consider whether the time is right for a bank to migrate its core system to the cloud – and if so, why?

This year, Amazon Web Services (AWS) celebrates its 12th birthday, while Microsoft Azure turns eight. In this relatively short timeframe, these two companies have become the universal gold standard for cloud-based solutions. Major companies, including Netflix, Adobe, Apple, Samsung, BMW and Facebook, have all adopted cloud ina big way. However, even five years ago, the mere mention of a cloud-based core solution in the boardroom of a major bank would probably end a meeting early.