Why Banks are Moving to the Cloud – And Why You Should Too

January 21, 2017 Off By Hoofer

Grazed from Business2Community. Author: Jim Crowley.

A major shift is taking place in banking right now. It’s a shift many banks have been pretty hush-hush about until now, and that naysayers said would never happen. Banks are rapidly testing and moving to the cloud. What happened in the past two years that changed how the banking industry approaches the cloud?

Two words: Capital One. In October 2015, Capital One’s CIO, Rob Alexander, revealed that the bank was all-in on AWS. They were one of the very first U.S. banks to not only commit to the cloud in a big way, but also to announce it loudly and proudly. Around the same time, World Bank, made a bold move. With Stephanie von Friedeberg, World Bank’s CIO, at the helm, the company quickly shifted from risk-averse, anti-cloud to pro-cloud by the company quickly shifted…

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