*Please note - registrations will only be accepted for banks*
Most financial institutions already make use of the cloud, but few do so for core processing. Indeed a recent Temenos survey showed that more than 90% of banks run functions like CRM in the cloud – but only 3% use it for core processing. This is despite a more forgiving regulatory view of cloud use in recent times, and the very real drivers for cloud adoption in the current financial services landscape – including the need to radically reduce costs, improve agility, increase scalability and compete with new entrants.
The promise of the “bank in a box” has been much discussed. A number of such propositions are now available, offering software as a service (Saas) pricing models and a dramatic reduction in operating costs, while delivering regulatory compliance on the one hand and rapid time to market on the other. However, adoption has been slow. So where is the resistance coming from? What are the perceived and/or real challenges for financial institutions of all types and sizes when it comes to leveraging cloud-based solutions? And what opportunities do such models present for banks that decide to pursue them – including the ability to better leverage the power of big data and analytics?
This roundtable discussion, hosted by Finextra and Temenos, will explore the drivers for cloud adoption in the context of digital transformation and the need to operate in an ever-more real-time world. The session will focus on the hurdles banks need to overcome to fully exploit cloud, what a good “bank in a box” solution looks like, the ways in which different types of organisation can leverage the power of cloud and the benefits that firms can reap if they take the plunge with cloud for their core processing.
The session will bring together a panel of expert speakers for an interactive discussion of key questions including:
- Why haven’t banks leveraged cloud as much as other industries, and why should they do more with the cloud?
- Does a “bank in a box” really exist, and what components should it have to be truly usable by financial institutions?
- Is the cloud only suitable for neo digital banks or does it have a role in helping banks grappling with legacy?
- What are the challenges for banks in moving from what they have today to cloud based solutions for the future, and how can they be tackled?
- Can cloud solutions help banks become more customer centric?
- Is the “bank in a box” really cheaper?
- Can banks rely on the security and safety of cloud solutions?
- What is the right balance between public and private cloud?
- Which financial services institutions are doing this already?
Speakers include:
- Luke Scanlon, Head of Fintech Propositions, and Legal Director, Pinsent Masons LLP
- Rui Silva, IT Director, OakNorth Bank
- John Schlesinger, Chief Enterprise Architect, Temenos