What is Cloud Computing in Retail Banking Market Scope?
Cloud-based operating models allow retail banks to have shorter development cycles for new products. Growing cloud adoption in retail banking is fuelled by increasing convenience in service delivery, easy scalability of cloud-based services, and stringent regulatory norms pertaining to data security and privacy. A growing number of cybersecurity risks have led to rising in the adoption of hybrid cloud services.
Cloud Computing in Retail Banking Market Dynamics:
- Cost-efficiency, Scalability, and Effectiveness of Cloud-based Retail Banking
- Growing Demand for Cloud Computing Services in Offering Customized Banking Experiences
- The Emergence of Open and Digital-only Banking Solutions
- Introduction of New Cutting-edge Technologies and Voice-first Banking
- Concerns with the Data Security
|Road Blocks / Challenges|
- Connecting Legacy Banking Infrastructure to Cloud Platform
|Gaps & Opportunities|
- Growing Need to Adhere to Changing Regulatory Norms in Banking
- Increasing Automation in Product and Service Delivery in Banking
The Cloud Computing in Retail Banking market study is being classified by Type (Public Clouds, Private Clouds and Hybrid Clouds), by Application and major geographies with country level break-up.
Global Cloud Computing in Retail Banking is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Adobe (United States), Alphabet (United States), Amazon (United States), Ellie Mae (United States), IBM (United States), Infosys (India), Intuit (United States), Medidata (United States), Microsoft (United States) and Oracle (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Salesforce.com (United States), SAP (Germany), TCS (India) and Veeva Systems (United States).
Analyst at AMA have segmented the market study of Global Cloud Computing in Retail Banking market by Type, Application and Region.
On the basis of geography, the market of Cloud Computing in Retail Banking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
On 22nd February 2022, U.S. Bank partners with Microsoft. U.S. Bank will be able to modernize how it operates in an increasingly digital world thanks to the use of cloud computing to power the majority of its infrastructure and application portfolio. This will include the capacity to quickly access and analyze data, accelerate time to market while more quickly scaling innovative products to customers and partners, and empower its increasingly agile workforce.
Key Target AudienceCloud Computing in Retail Banking Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others
Cloud Computing in Retail Banking Market Study: Important Years
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