From Brick-and-Mortar to Data Powerhouse: The Cloud Transformation Blueprint for Banks

Legacy systems continue to hinder the advancement of banks, with a substantial 82% still relying on outdated technology, according to a 2023 report by Celent. These outdated systems present numerous challenges, including limited innovation, escalating costs, and heightened security vulnerabilities. This underscores the pressing need for modernization. Enter the cloud—a compelling solution offering scalability, enhanced security, and significant cost savings. IDC research suggests that the global banking sector could save up to $20 billion annually by embracing cloud computing, with a Total Cost of Ownership (TCO) around 50% lower than conventional IT systems. However, a mere migration to the cloud falls short. Join us at Bytes and Brews to explore how a strategic partnership with Hitachi Vantara and a data-driven approach can transform banks into data powerhouses, unlocking personalized experiences, stronger risk management, and innovative financial products.