TECH BUYER Aug 2021 - IDC Perspective - Doc # US46526221

Banking on the Cloud: Results from the 2021 CloudPath Survey


Jerry Silva
Karen Augustine

This IDC Perspective reviews the findings of IDC's 2021 Worldwide Industry CloudPath Survey, specifically for the banking industry. Cloud services are becoming essential to bank survival in a post-pandemic world where customers are demanding greater convenience and more capabilities. As IDC's 2021 Worldwide Industry CloudPath Survey shows, nearly all banks are using public and private cloud platforms. And the top cloud applications are mission-critical workflows such as online and digital banking and payment processing. Banking executives are reaping the benefits of cloud deployment by noting that they are better able to provide enhanced products and services faster to market with greater agility and efficiency and, in many cases, with improved security.

"Cloud is a growing component of infrastructure strategy, as banks incorporate more of their workflows into a variety of cloud environments in the foreseeable future," says Jerry Silva, vice president, IDC Financial Insights' Global Retail Banking program. "This year's Worldwide Industry CloudPath Survey shows us that cloud deployment really is essential to the banking industry, which is further accelerating its adoption of cloud based on real benefits proven in the market."



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