Accenture Moving To The Cloud Strategy For Banks in North America
Accenture Moving To The Cloud Strategy For Banks in North America
Accenture Moving To The Cloud Strategy For Banks in North America
in North America
Disruptive Competition
Challenging Customers
Competition, disintermediation,
Liquid expectations, digital life,
fragmentation of the traditional
changing customer base
bank value chain
INTERNAL CHALLENGES
MARKET PRESSURE
Figure 3: Security and Regulatory Compliance Perceptions Associated with the Cloud
Perception Reality
1. The cloud “A multi-tenant cloud may actually be more secure because
is insecure it makes it difficult to target a particular company or data set.”
Senior executive, CTERA Networks Ltd.
Perception Reality
2. The cloud suffers “When the correct security policies for preventing attacks
from more breaches and detecting them are implemented, attacks are no more
threatening to the cloud than any other piece of infrastructure.”
President and Co-founder, HuddleTM (Ninian Solutions Ltd)
Perception Reality
3. Data is secure “The various high profile security breaches… have served to highlight
when it is physically that the physical location of the data matters less than the access
controlled and associated controls.” General Manager of Navisite, LLC
Perception Reality
4. Cloud security “There are now tools and capabilities that allow IT to enable
tools and capabilities cloud securely in any number of environments specific to unique
are not ready requirements’ needs thanks to the ubiquitous nature of APIs.”
CEO and founder of Netskope, Inc.
Perception Reality
5. Maintaining “Believing in this myth leads to companies either compromising
cloud security security in the name of business requirements or refraining
is far too difficult from using the cloud for mission critical applications.”
CEO of Flux7, Inc.
Sources: The great IT myth: is cloud really less secure than on-premise?, Information Age, March 9, 2015.
20 of the Greatest Myths of Cloud Security, CIO.com, May 13, 2015.
Due in part to security concerns, banks Cloud has become the default choice
and their financial services peers were for both new applications and legacy
late in implementing cloud solutions, enhancement initiatives. What we are
but there has been clear uptake in seeing, however, is that many banks are
recent years. For example, according using cloud to improve their current
to an industry study, over 60 percent of systems and operating model, rather
financial institutions were developing than using cloud as the basis for a
a cloud strategy1 and among surveyed more fundamental transformation.
European-based financial institutions, 88
percent were already using cloud-based
services.2 And for 2017, global spending on
public cloud services in the banking sector
is expected to climb to over $12 billion.3
Migrate to Cloud
Move application to Target Cloud Platform using traditional
migration methodologies
Application Remediation
Re-platform and remediate applications to make them platform
compliant and cloud-ready
LEGACY SYSTEMS
Application Re‑Engineering
Re-architect applications, to be delivered in more agile ways
via automation services for Target Cloud
Migrate to SaaS
Find equivalent functionality and migrate to SaaS
to be updated
LEGACY