“With competition reaching critical mass in the banking industry in recent years, agility is essential in being able to compete and drive new products quickly to market. A bank can no longer decide to forgo modernisation and cloud adoption, unless they are open to the risk of becoming overtaken and obsolete.
COVID-19 has plunged banks into an unknown future. Banks have had to adjust processes and policies overnight in response to changing regulation and customer requirements, which legacy, on-premise systems were not built for. As the crisis continues to evolve, banks are navigating blind on how to proceed. This has emphasised the need to have a system that allows banks to pivot quickly and smoothly.”
https://www.finextra.com/blogposting/19732/2021-fintech-predictions