Skip to main content
Skip to footer

Heading to the Cloud: A Strategy for Banks and Financial Institutions

Dhanasekar Purushotham

Cloud Architect, Technology Advisory Group, Banking, Financial Services, and Insurance, TCS

Amit Sinha

Consulting Partner, Technology Advisory Group, Banking, Financial Services, and Insurance, TCS

Asim Kar

Head, Cloud Technology Group, Technology Advisory Group, Banking, Financial Services, and Insurance, TCS

You have these already downloaded

We have sent you a copy of the report to your email again.

Building a hybrid cloud foundation for future ecosystem banking models 

The banking and financial services industry has lagged in moving to cloud banking models due to a complex application landscape, legacy systems, cybersecurity challenges, and regulatory compulsions. As a result, incumbent banks have been slow to acquire new capabilities and embrace innovative business models such as ecosystem banking models. However, benefits of cloud technologies such as product innovation, business and operational agility, and innovative business models are now driving banks to explore cloud adoption.

We believe that the target cloud model will be a hybrid model – a short-term, workload-based strategy to accommodate varied workloads and a long-term capability-based approach to build future-ready capabilities and support ecosystem banking models. Successful transition, however, will require banks to define a cloud migration approach considering certain key aspects:

  • Classification of functions

  • Digital infrastructure fabric

  • Ecosystem fabric

  • Data fabric

Related reading

Combining Embedded Finance with Customer Journeys for Greater Value

White Paper | 14 Mar 2023

Leveraging Data-driven Decision-making in the Mortgage Business

White Paper | 02 Mar 2023

Enhancing customer experience in banking with IVR system testing

White Paper | 21 Feb 2023

Driving Frictionless CX with TCS’ Digital Customer Engagement Model

Solution | 06 Feb 2023

Transformation starts here

Ready to move from enterprise to ecosystem?

Talk to our experts

Find out more