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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

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