Cloud Platforms Powering FinTech in Europe, 2017

  • ID: 4231932
  • Report
  • Region: Europe
  • 77 Pages
  • Frost & Sullivan
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Financial Services Industry to Move Core Services to the Cloud in the Next 2–3 Years

FEATURED COMPANIES

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In terms of cloud adoption, the financial services industry has been lagging unlike many other industry sectors. While the benefits of cloud adoption are not unknown, there was initial hesitation on account of legacy infrastructure, lack of clarity on regulations, concerns related to compliance and data security.

Cloud providers, upon understanding the specific needs of the industry, have been extremely proactive in working with regulators and ensuring that their solutions meet stringent requirements. This trend followed by regulators issuing guidelines and promoting the use of cloud has also helped in adoption.

The most significant driver has been disruption of the industry by start-ups, many of whom are completely cloud based. This move has resulted in much lower costs and faster time-to-market, two of the biggest challenges for incumbents.

This has had a direct impact on improving consumer satisfaction and retention, enhancing their ability to utilize the vast data available to enhance products and services, and in increasing market scope.

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FEATURED COMPANIES

  • Amazon
  • Google
  • IBM
  • Microsoft
  • OVH
  • MORE
1. Executive Summary
Key Findings
Definitions

2. Cloud Platforms for Financial Services
Cloud Platforms-Enabling Enterprise Flexibility
Cloud Platforms-Service Models Enable Flexibility for Stakeholders
Cloud Platforms-Gradual Migration with Varying Degrees of Benefits
Multiple Deployment Models Promote Cloud Adoption
Boundaries Blur in Cloud Deployment
Cloud Architecture-Multiple Industry Participants to Manage Complexity
Cloud Ecosystem-Multiple Industry Participants to Manage Complexity
Cloud Platforms-Impact on Critical Enterprise Functions
ICT Spending Forecast 2020

3. Cloud Solutions and Service Providers
Complexity is the New Reality of Financial Services
IT Strategy and Budgets of Financial Services Companies
Cloud Solutions-Applied Across a Range of Functions
Cloud Solutions and Adoption-Current Trends
Cloud Solutions and Adoption-Emerging Trends
Focus Areas for Financial Services Companies in Cloud Adoption
High Satisfaction Levels Among Financial Services Users
Amazon Web Services (AWS) Profile
Google Cloud Platform Profile
IBM Profile
Microsoft Azure Profile
OVH Profile
Cloud Platforms-Small Change, Big Difference
Cloud Platforms-Foundation Of Digital Financial Services Ecosystem

4. Advanced Technology Integration in
Integration of Advanced Technologies
Integration of IoT
Integration of Big Data and Analytics
Integration of AI and ML
Integration of Blockchain
Emerging Technology Trends

5. Cloud Platforms in Europe-Drivers and Restraints
Cloud Platforms in Europe-Market Drivers by Order of Impact
Drivers and Impact on Industry-Detailed
Cloud Platforms in Europe-Market Restraints by Order of Impact
Restraints and Impact on the Industry-Detailed

6. Application of Cloud by Financial Services Startups and Incumbents
Financial Services Firms Use Cloud For Myriad Services
Use Cases-Cloud Solutions
Application of Cloud Platforms by Start-ups
Trends in Application of Cloud by Start-ups
Application of Cloud by Incumbents
Trends in Application of Cloud by Incumbents
Cloud Central to New Payment Solutions

7. Impact of Regulations on Cloud Adoption
Ambiguity Around Regulations Slows Adoption
PSD2 and Shared API in Europe
Use Cases-Solutions To Meet Regulatory Requirements

8. Growth Opportunities and Companies to Action
5 Major Growth Opportunities
Growth Opportunity 1-P2P Payments
Growth Opportunity 2-Account Management
Growth Opportunity 3-RegTech
Strategic Imperatives for Success and Growth
3 Key Conclusions
Legal Disclaimer

9. Appendix
About the Survey
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