32% of banking entities modernize their applications to be more flexible
26 Feb. () –
Migration to the cloud is one of the technological tools that banks will have to use to innovate and gain business agility and flexibility efficiently, according to Minsait, an Indra company specializing in digital transformation.
80% of banking entities have great interest or have global tactical plans for modernization and migration to the cloud, which demonstrates the bank’s awareness of the need to modernize so as not to be left behind.
According to the Ascendant 2022 report, prepared by Minsait, only 12% of banks have high levels of maturity in regards to ‘Core banking’, demonstrating that they still have a long way to go.
By modernizing banking applications, an intelligent extraction of data and documentation can be obtained, which makes it possible to analyze the information and monitor it in the cloud.
The creation of this new ecosystem of data in the cloud entails a more agile and flexible decision-making by the bank, directly affecting the offer of personalized products and services to an increasingly demanding customer, who demands greater immediacy and Simplicity in the purchasing process.
Also, by using new digital channels, combining the physical world with the digital, a field known as ‘phygital’, it allows them to create new business models, new user experiences and attract and retain customers.
Another advantage of migrating to the cloud in the banking sector is the construction of infrastructures that favor scaling their models efficiently, helping the commitment to sustainability through greener energies.
On the other hand, the data is much more protected against possible cyberattacks. Currently, around 75% of banking entities have a defined security model with control processes and continuous monitoring, which demonstrates a
greater transparency and security to its customers.
Minsait’s Ascendant 2022 Report, which analyzes and develops the level of banking modernization, confirms that the sector is in the midst of a process of adaptation and digital transformation. In this line, increasing flexibility, agility and making use of greener energies are some of the advantages that migration to the Cloud will allow to adapt the applications of the banking sector.
