"Financial institutions across the world are increasingly reliant on cloud computing, accelerating company strategy through remarkable gains in agility and cross-sector collaboration. With that, however, big finance is becoming almost entirely reliant on big tech; with cloud services provided by the likes of Google, Amazon and Microsoft storing vast quantities of customer data. This has raised concerns about bank resiliency, with The Bank of England, for one, considering testing UK banks and analysing what would happen if their access to the cloud was disrupted."
Verne Global's Director of Deep Learning and HPC Solutions, Vas Kapsalis, recently wrote an article for Finance Digest. With the rapid increase of big tech, financial firms are becoming more tech reliant than ever before. In the article he talks about how Cloud is the key to innovation in the Financial Services sector.
Read the full article here: https://www.financedigest.com/open-banking-cloud-key-fs-innovation.html