What is a Sovereign Cloud ?
WATCH NOW them to rebuild their business models and technology foundations around customers .
Crucially , the cloud has allowed these firms to adapt at pace and keep up with the rapid rate of change .
“ Scalability , adaptivity in change and extensibility have made cloud strategies fundamental rather than optional or just desirable in insurance ,” continues Yates .
“ Cloud technologies provide these businesses with a far greater ability to build , test and deploy seamlessly and easily . Vitally , this allows business change to be more frequent , lower-risk and at a lower relative cost of change .”
A boost for banks Increased collaboration between banks and fintechs in recent times has pushed the former towards a new era of modernisation .
Traditional institutions have been left with little choice but to do away with outdated IT infrastructure and , inevitably , cloud migration has played a pivotal role in the transition .
It ’ s a development that has facilitated far easier integration of fintech solutions , helping banks to provide added value to their customers .
They can also engage with fintech firms on their own terms , as Morgan explains .
150 April 2024