IDC predicts that 80% of the banks in the Asia-Pacific region will run their operations on hybrid cloud technology by 2018.
According to the IDC MaturityScape Benchmark for Cloud in Banking in Asia Pacific report, the majority of banks in the Asia-Pacific region are already in the first stages of cloud maturity, specifically the ad hoc and opportunistic stages.
However, IDC expects that the next two years will be a tipping point for cloud uptake among the region’s banks as it becomes the fundamental technology for new financial services solutions.
“With growing regulatory support for cloud and the intensifying competitive pressures forcing Asia-Pacific banks to look at what cloud can offer in terms of cost take-out and quicker go-to-market, cloud adoption will scale up this 2017,” said Michael Araneta, associate vice president for IDC Financial Insights Asia/ Pacific. “IDC sees a group of 20 Asia-Pacific banks that are effectively cloud-first in architecture. Early adopters will enjoy cost take-out of up to 20% between now and 2019.”
The IDC MaturityScape Benchmark for Cloud in Banking in Asia Pacific recommends that banks evaluate how their peers are using cloud technologies and identify how they can be used to support business goals.
“Banks will need to identify which assets, infrastructure, and applications can first move to cloud,” said Sneha Kapoor, senior research manager for IDC Financial Insights Asia-Pacific. “Application owners from the business must work with IT to put a lens on workloads, data, and systems, and look for those that are already tuned for cloud and the implications that the migration to cloud will have on business objectives.”