The banking sector is at a turning moment. Multiple factors are at work to drive the industry’s fundamental restructuring. There is an unparalleled potential for banks that respond swiftly and embrace technology to profit from this revolution.

On the basis of cloud computing, the bank of the future will be constructed. Multi cloud and hybrid cloud give CIOs with a once-in-a-generation chance to act as change agents and steer the transformation of their institutions.

According to Gartner, the worldwide market for public cloud services is expected to reach $266 billion by 2020. IDC estimates that banks are already spending $20 billion on public cloud out of their overall IT budget of $200 billion.

Is your bank prepared to engage in an open, creative, and collaborative ecosystem? Are you prepared to compete with a challenger bank that onboards consumers easily, develops new services rapidly, handles regulatory compliance transparently, and use artificial intelligence technologies to prevent losses and downtime?

The future bank is being constructed in the cloud. It is time to accept it.