Core banking on the cloud, the catalyst for innovation, agility and efficiency

“As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. In financial services, Banking-as-a-Service (BaaS) platforms have emerged as an integral part of open finance, where players provide more value-added services for customers by opening their application programming interfaces (APIs) for third parties to develop new services.”

Taking Banking To The Cloud: Five Engineering Priorities

  • “Banking and financial services understand these demands, so it’s no surprise they are increasingly adopting cloud platforms; the global finance cloud market is expected to grow more than 22% annually through 2025.
  • To ensure a swift, seamless transition to cloud platforms, we believe banks must overcome five major challenges. They’ll need to reengineer processes and workflows; integrate cloud and legacy systems; adhere to regulatory compliance; and relentlessly test — all with bulletproof security.”

Gartner releases its 2021 emerging tech hype cycle: Here’s what’s in and headed out

– “Artificial intelligence’s impact on generating code, augmenting design and innovation is all 5- to 10-years away.

– Composable is going to be a key buzzword for applications and networks.

– Industry clouds are just beginning on the hype cycle with a plateau reached in 5- to 10-years. That take is interesting given industry clouds are everywhere from multiple vendors.

– Digital humans are being talked about a good bit, but Gartner reckons the technology is more than 10 years away from productivity gains. Quantum-based machine learning is also more than 10 years out.”

The big three innovations transforming cloud security

“Secure Access Service Edge is a term coined by Gartner in 2019, defined as the convergence of multiple network and security-as-a-service capabilities, such as software-defined wide-area networks, secure web gateways, CASB, next-generation firewalls and zero-trust network access. SASE is delivered as a service and enables zero-trust access based on the identity of the device or entity, combined with real-time context and security and compliance policies.”

AI Weekly: AI adoption is driving cloud growth

“In a recent survey, 80% of U.S. enterprises said they accelerated their AI adoption over the past two years. A majority consider AI to be important in their digital transformation efforts and intend to set aside between $500,000 to $5 million per year for deployment efforts. Organizations were projected to invest more than $50 billion in AI systems globally in 2020, according to IDC, up from $37.5 billion in 2019. And by 2024, investment is expected to reach $110 billion.”