The Digital Revolution and Future Plans for Financial Services
The traditional approach to technology management in financial services has dissipated alongside the explosion of digitalization. In spite of the financial services sector’s tendency to take on adoption slowly, developments in IT are moving fast because of heightened consumer demands. Banks and insurance companies alike are being pushed to create applications to enable those demands, and require far more complex infrastructures on the backend to support them.
The financial industry is now face to face with cloud computing, having to weigh the benefits of internal development versus the use of third-party support for platforms and infrastructure, or third-party data center facilities. Intensive upgrades and implementations are coming on the heels of enabling a long list of digital initiatives, and financial services organizations are dealing with the constant pressure of innovating while phasing out legacy infrastructures. Most businesses are either refreshing with new hardware, or moving to a cloud infrastructure in favor of an OpEx model.
Download this White Paper to learn more about financial services’s biggest IT initiatives.