TECH & AI
“ The cloud is the foundation for much of the innovation that is reshaping the fintech industry for the better ”
STEVE WILLIAMS FINANCIAL SERVICES & INSURANCE LEAD , ORANGE BUSINESS
however . The inherent inflexibility of legacy banking platforms makes their integration with modern systems challenging , to say the least .
This can not only end up hindering innovation but may also lead to expensive maintenance costs and security vulnerabilities .
“ Data sovereignty , security and privacy remain top concerns for banks migrating to the cloud ,” Williams goes on . “ They ’ re key factors in the speed at which traditional banking has adopted cloud – and finding the right cloud is of utmost importance .
“ For banks , managing the migration process requires careful planning and expertise to ensure a smooth transition and continued compliance .”
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