Adoption of Public Cloud in Global Banking: Findings from IDC's Industry CloudPath Survey, 2019

Adoption of Public Cloud in Global Banking: Findings from IDC's Industry CloudPath Survey, 2019

This IDC Perspective reviews the findings of IDC's Industry CloudPath Survey specifically for the banking industry. Public cloud services, once limited as a deployment vehicle for software providers to offer their solutions in an efficient, low-cost, managed model for the banking industry, is now considered a viable platform for more complex and critical workloads that have traditionally run on-premise within the bank's own datacenters. As IDC's 2019 Industry CloudPath Survey shows, public cloud platforms are now in the mainstream of deployment alternatives not only for turnkey applications in relatively low-risk areas but also for more critical workloads in PaaS and IaaS environments in banking."Cloud architectures as a whole, including public, private, and hybrid deployments, will be the means by which many legacy systems will be modernized to increase efficiencies and gain agility," says Jerry Silva, research director, IDC Financial Insights' Global Retail Banking program. "Infrastructure itself is becoming an important factor in the enterprise's ability to compete in a world increasingly populated by fintechs and the emergence of new sources of value enabled by ecosystem connections."

Please Note: Extended description available upon request.

Executive Snapshot
Situation Overview
A Shift from Small Deployments to Larger Ones
The Shift from SaaS to PaaS and IaaS
A Marked Decrease in Noncloud Spending at the Bank
Global Spending on Public Cloud by the Banking Industry Growing at 22.5%
Advice for the Technology Buyer
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