Cloud Based Banking: The future of banking and financial services
Since the pandemic hit, most traditional banking and payment systems have shifted to digital banking services. Now that countries are pushing to revitalize their economies, consumers have adapted well to technologies like digital payments and online transactions that can leverage cloud banking.
But what is “Cloud Banking”? According to, SDK.Finance “Cloud-based banking refers to deploying (and managing) banking infrastructure in order to control cloud-based core banking operations and financial services without dedicated physical servers”.
How does cloud banking enable financial institutions? It allows a financial institution to manage core banking platforms and applications in the cloud, with on-demand access to increased computing power and resources. This deployment and delivery model allows the financial institution to offer core financial services online and provides customers with more convenience and flexibility.
In the past, incorporating new technology took months to do. Thanks to the cloud, it is now faster to adopt new technologies, it requires lesser investment and it produces a more scalable and resilient environment. Plus, with prebuilt services and tooling in most public clouds, financial institutions can focus on providing better services to their customers instead of tinkering with technology.
Moving to the cloud is not always easy. We can simplify your journey to the cloud whether you are moving a few applications or a large part of your infrastructure. Send us a note to set up a free consultation with us.
Amihan helps businesses transform how they serve their customers through innovative software solutions, data engineering and analytics, and cloud infrastructure. Make that Digital Shift! Visit our website to learn more.
Bernadette Valerio is an experienced graphic designer and marketing associate in Amihan.