TECH BUYER May 2017 - IDC Perspective - Doc # CA40794215

Industry Clouds — A Vignette of Financial Services Industry Adoption in 2017

By: Eric NewmarkProgram Vice President - SaaS, Enterprise Apps, Industry Cloud, and Digital Commerce, Marc DeCastroResearch Director, Consumer Banking, Jerry SilvaResearch Vice President, Erik Berggren


This IDC Perspective discusses the industry cloud market within the financial services industry, identifies where industry cloud (IC) adoption is both leading and lagging, and provides insight into how industry collaborative clouds are expected to impact the industry going forward.

Eric Newmark, program vice president of IDC's Industry Cloud research, noted, "The industry cloud market is growing fast, with dozens of new ICs emerging each month across industries, including financial services companies. Enterprises is this space are increasingly offering their IP, expertise, and best-in-class capabilities through a broad range of cloud models, such as software as a service, hardware as a service, information as a service, and various business operations as a service, just to name a few. Consequently, many financial services industry value chains will experience significant disruption over the next decade, and technology vendors need to prepare strategically to confront the impending industry disintermediation, technology convergence, and customer consolidation that will ensue."



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