target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: IDC Survey Spotlight - Doc Document number: # US51127723
Private Cloud Driving Real Business Results in Banking
This IDC Survey Spotlight highlights the results of IDC's Worldwide Industry CloudPath Survey. The survey reaches out to 300 financial institutions globally, including 100 each in the banking, insurance, and capital markets subindustries. The survey asks for general feedback on the adoption and use of both public and private cloud, as well as posing industry-specific questions about actual and planned workloads moving to cloud, concerns of cloud, criteria for moving workloads to cloud, and expected and real benefits from the adoption of cloud.
"In addition to the continued adoption of public cloud in the banking industry, private cloud is still proving to be a critical deployment model for banking institutions," says Jerry Silva, program vice president of IDC Financial Insights. "Every individual institution will have its reason for choosing between public and private cloud for workload modernization, but according to IDC's 2023 Worldwide Industry CloudPath Survey, private cloud is delivering actual benefits that exceed expectations in almost every area of the institution's business, IT, and operations areas organizations."