A new whitepaper launched today by Finextra, in partnership with Thoughtworks, argues that cloud-based infrastructure models can enable the flexible, adaptive strategies that are urgently required by leading organizations to help them succeed – at a time of unprecedented market disruption.
Drawing on insights and best practice from business leaders at Akbank, Amazon Web Services, Microsoft and Standard Chartered Bank, the new whitepaper brings together a clear view of why cloud is so critical to the future of Financial Services and what it takes to build and execute a holistic cloud strategy in a fast-changing Financial Services sector.
Some key conclusions from the whitepaper:
Better innovation capabilities, stronger resilience, faster speed-to-market and adaptiveness are cited as tangible benefits that cloud transformation affords to firms in the longer run.
A stronger commitment to cultural change, continuous improvement in digital capabilities and ways to bring people along in the journey are important for the success of cloud transformation initiatives.
Technology-driven thinking is vital for success, as firms need to embrace a holistic, enterprise-wide engineering culture in their journey to becoming tech first organizations.
Customers now expect more personalized, digitally-enabled solutions, delivered more conveniently to them. Cloud-based modernization opens up a new world of collaboration opportunities for large Financial Services players, to partner with the ecosystem and bring end-to-end offerings to the market.
“Our new white paper has been a collaborative effort and we signpost both the challenges and the opportunities that financial services organizations need to consider as they consider their cloud transformation journey,” said Phil Hingley, director of financial services at Thoughtworks UK.
Amid the flux of internal and external pressures organizations are faced with, only cloud-based infrastructure models can enable the flexible, adaptive strategies required to succeed in these conditions. The cloud journey is no longer the leap into the unknown it once was, and as many push ahead with projects that have been in the pipeline for years, best practices for successful cloud-based modernization in financial services are emerging.
For more information on how to get a copy of the whitepaper click here
About Thoughtworks
Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 9,000+ people strong across 48 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.
About Finextra
Finextra is the leading independent newswire and information source for the worldwide financial technology community. Finextra covers all significant technology news in wholesale and retail banking, the capital markets and insurance. Finextra also publishes a wide range of research articles, features, white papers and case studies.