4 areas of focus for evaluating cloud-based vendors

Cloud adoption has been ramping up for the last several years, with financial institutions even migrating some core processes to the cloud and developing cloud-native apps. Post pandemic, bankers are accelerating those plans, especially as they look to further digitize the experience.

In fact, a recent survey found that almost half of bankers say that Covid encouraged them to increase spending on cloud projects. Last year, financial institutions spent $36 million on cloud projects, and it’s expected to increase from 1% to as high as 10% over the next couple of years.

An often-confusing term, many individuals believe that “the cloud” is this mysterious place where data floats and can simply appear at the press of a button. But the cloud is a real place, and it’s often many places through multiple data centers.

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