IDC Perspective: Banking on the Cloud: Results from the 2022 CloudPath Survey

IDC Perspective: Banking on the Cloud: Results from the 2022 CloudPath Survey

This IDC Perspective reviews the findings of IDC's 2022 Worldwide Industry CloudPath Survey specifically for the banking industry. Cloud services form the foundation for the banking industry's transformation to a digital business to improve innovation and gain business agility while improving resilience to disruptions from rising inflation, geopolitical challenges, and a growing digital-native population. As what IDC's 2022 Worldwide Industry CloudPath Survey shows, banks need a breadth of cloud services and need to operate in multicloud environments given that 83% of the banks surveyed use public and private cloud platforms."Cloud continues to be a growing component of the bank's digital infrastructure as banks recognize the importance of cloud services for their ability to innovate while improving resilience against current and future disruptions," says Jerry Silva, Vice President, IDC Financial Insights' Global Retail Banking Program. "This year's IDC Worldwide Industry CloudPath Survey shows us that the banking industry continues to accelerate cloud adoption based on the real benefits proven in the market," he adds.

Please Note: Extended description available upon request.

Executive Snapshot
Situation Overview
Cloud Migration Accelerates and Is Gaining a Greater Share of IT Budgets
How Banks Choose Which Workflows to Migrate
Triggers to Move to Cloud and Partner Selection Criteria
Actual Versus Expected Benefits of Cloud Adoption
Advice for the Technology Buyer
Cloud Is an Essential Component of the Digital Bank
Align Workload Migration with the Goal of Digital Business
Ensure Support for Cloud Management
Partner with Providers That Have Deep Experience in Financial Services
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