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Strategic Intelligence: Cloud Computing in Financial Services

Publisher GlobalData
Published Jul 15, 2025
Length 47 Pages
SKU # GBDT20265868

Description

Strategic Intelligence: Cloud Computing in Financial Services

Summary

This report provides an overview of the cloud computing theme and how it will impact the financial services industry. It predicts how cloud adoption will evolve, including the key challenges this technology will solve. The report also includes select case studies highlighting which players are innovating in the financial services industry using cloud technologies.

Cloud computing refers to the provision of IT infrastructure, software platforms, and services delivered via the internet, rather than on hosted local servers. The cloud is the dominant model for delivering and maintaining enterprise IT resources. Sharing IT infrastructure and services creates a flexible, scalable, and on-demand IT environment. As per GlobalData, global spending by financial services companies on cloud computing in 2023 amounted to $93.2 billion. By 2028, it will have grown to $205 billion at a compound annual growth rate (CAGR) of 17%.

Scope
  • The use cases of the cloud value chain have helped solve the challenges financial services companies face and had an impact on some of their strategies, changing the way they make decisions and the way they engage with customers and employees.
  • As more financial services companies use technologies from the cloud computing framework, they will see the benefits of improved agility and scalability, ensuring compliance terms have been met while improving customer experiences as well as cost efficiency.
  • Traditionally, financial institutions have relied on legacy IT infrastructure that is costly to maintain, slow to scale, and inflexible in adapting to new demands. Cloud platforms allow these organizations to rapidly deploy and scale applications and storage according to changing business needs.
  • Cloud adoption supports cost optimization. By shifting from capital expenditure to operational expenditure, financial institutions can avoid large upfront hardware investments and instead pay only for what they use. This model not only reduces waste but also improves budget flexibility for financial services companies.
Reasons to Buy
  • Benchmark yourself against the rest of the market.
  • Gain valuable insight into cloud computing in the financial services industry.
  • Ensure you remain competitive as new innovations and developments in cloud computing transform the financial services sector.
  • Quickly identify attractive investment targets in the financial services industry by understanding which companies are most likely to be winners in the future based on our thematic scorecard.
  • Gain a competitive advantage in the financial services industry by understanding the potential of cloud computing.

Table of Contents

47 Pages
Executive Summary
Players
Value Chain
The cloud computing stack
Software as a service (SaaS)
Platform as a service (PaaS)
Infrastructure as a service (IaaS)
Cloud professional services
The Impact of Cloud Computing on Financial Services
Banking and payments
Insurance
How cloud computing helps tackle the challenge of cybersecurity and compliance
How cloud computing helps tackle the challenge of remote work and collaboration
How cloud computing helps tackle the challenge of embedded finance
How cloud computing helps tackle the challenge of personalization
How cloud computing helps tackle the challenge of insurtechs
Case Studies
AXA’s Move to the Cloud initiative
Capital Express partners with AWS and NetRed to modernize its systems
AIA Singapore partners with Microsoft Azure for full application modernization
VPBank partnered with AWS to modernize its operations
The Cloud Computing Timeline
Companies
Leading cloud computing adopters in financial services
Specialist cloud computing vendors in financial services
Sector Scorecards
Retail banking sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Non-life insurance sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Leading cloud computing adopters in financial services
Table 2: Specialist cloud computing vendors in financial services
Table 3: Glossary
Table 4: GlobalData reports
List of Figures
Figure 1: Key players in the cloud computing theme
Figure 2: The cloud computing value chain
Figure 3: Thematic investment matrix for banking and payments
Figure 4: North America and Latin America are anticipated to experience increased activity in cloud
Figure 5: Thematic investment matrix for insurance
Figure 6: The cloud computing story
Figure 7: Who does what in the retail banking space?
Figure 8: Thematic screen - Retail banking sector scorecard
Figure 9: Valuation screen - Retail banking sector scorecard
Figure 10: Risk screen - Retail banking sector scorecard
Figure 11: Who does what in the non-life insurance space?
Figure 12: Thematic screen - Non-life insurance sector scorecard
Figure 13: Valuation screen - Non-life insurance sector scorecard
Figure 14: Risk screen - Non-life insurance sector scorecard
Figure 15: Our five-step approach for generating a sector scorecard

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