Market Reports
published on Jan 15, 2024
Report Overview:
This report provides an update to NelsonHall’s assessment of the Cloud Services in the Banking Industry market in the light of recent market developments.
Who is this Report for:
NelsonHall’s market update for Cloud Services in the Banking Industry is designed for:
- Sourcing managers investigating sourcing developments within the financial services sector
- Vendor marketing, sales, and business managers developing strategies to target service opportunities within the financial services sector
- Financial analysts and investors specializing in the financial services sector.
Scope of this Report:
This Market Update report updates NelsonHall's assessment of the Cloud Services in Banking market, including:
- A recap of the key points from our last market assessment
- A summary of significant market developments since then
- A brief analysis of how the banking industry is responding to changing market dynamics.
Key Findings & Highlights:
This document provides an update to NelsonHall’s assessment of the Cloud Services in Banking market in the light of recent market developments.
Since last year, banks have been looking to implement new functionality in their operations by migrating processes to the cloud. Instead of migrating mature processes to the cloud and embedding new functionality, the banks are responding to emerging regulations and moving to the cloud to adopt new functionality while trying to redesign their business models. Using the cloud will help the banks to “get outside their own walls” and manage third-party ecosystems more effectively. By working with third parties, ultimately, banks will need less capital to drive their businesses forward.