Banking Cloud Services

Accenture spends a lot of time talking to clients and leaders in the financial services industry. These days, every bank is asking themselves a very simple question: “What does it mean to be a bank in the cloud?” When we started to look at this we realized that there really is no single answer to that question. Our bi-monthly banking cloud publication helps banks learn, discover and navigate their way into the cloud. While most banks have adopted some form of cloud, just a weighted 8% of their workloads across four functional areas— Enterprise, Data & Analytics, Surrounds and Core — have migrated to the cloud to date.

Cloud computing is nothing new — it’s been around since companies were sharing mainframe computer time in the ‘70s. There is no definitive version of cloud...and as the technology advances it becomes ever more complex and nuanced. Accenture can help you make sense of all this complexity so that you can work out what strategy is best for your organization and plan a successful migration.

The Banking Cloud Rotation Index is a recent profile of 100 global banks, providing a snapshot of where banks are in their journey to cloud. While most banks have adopted some form of cloud, just a weighted average of 8% of their workloads have been migrated across four functional areas— Enterprise, Data & Analytics, Surrounds and Core. The research covers North America, Europe and Growth Markets including Australia, Latin America, and India.

Accenture’s experience of helping large banks move their applications to the cloud is that it typically delivers impressive benefits: 10-20% cut in operational costs, 30-50% shorter time to market, 40-50% quicker provisioning speed along with benefits of cost variability, enterprise agility, an enhanced customer experience and support for both compliance and innovation.