A series of studies by Publicis Sapient – in collaboration with Google Cloud – show that the adoption of cloud technologies will triple globally by 2025 . Adoption accelerated over the pandemic period , but looks set to increase significantly as banks seek to automate processes , apply advanced analytics to data , and enhance their ability to embed partners like fintechs .

The report , which surveyed 250 senior banking leaders globally to track where they are on their cloud and business transformation journeys , revealed that more than two thirds of the banks surveyed want at least 31 % of their applications and data to be in the cloud in three years ’ time .

The data proves that the adoption of cloud-native technologies is set to triple the rate that is seen today , where only about a third of the institutions surveyed indicated having more than 30 % of their applications and data on the cloud .

� REVOLUT Despite a number of challenges in the present climate , Revolut is now the most valuable fintech in Europe , following Klarna ’ s recent fall from grace amid rising costs impacting the lending space . � MONDO Berlin-based startup Mondu has secured US $ 43mn in Series A funding for its B2B buynow-pay-later ( BNPL ) solution . The investment , led by US-based venture capital fund Valar Ventures , will allow Mondu to continue scaling , invest in further product development and pursue international expansion . � KLARNA The Swedish BNPL fintech has fallen off the top spot following inflation and rising costs impacting its lending model . Klarna has reportedly lost 30 % of its valuation and is shedding 10 % of its workforce as a result . � CHIME FINANCIAL Chime Financial may have put its plans to go public on hold following poor results for other fintechs going public as a result of market uncertainty . The ongoing war with Ukraine and the rising cost of living have been instrumental in destabilising the market .

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