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Cloud Computing

Radical Transformation In Financial Services

Provided by IBM

Category Cloud Computing

Type White Paper

Length 16

Publish Date September 10 2016

Overview

Financial institutions should consider rapidly transforming business models in ways that are cognitive and digital. These transformations should include: Developing alternative revenue sources (using marketplace banking strategies and cognitive technologies) Streamlining costs by: Advancing digitization initiatives optimized across the enterprise Creating an efficient, flexible IT infrastructure based on micro- services and open APIs Using cloud models to streamline costs and enable scalable growth Financial institutions that fail to become cognitive and digital risk survival. Tepid global economic expansion during the current economic cycle has driven improved profits for the financial services industry. Profits for the US financial services industry in particular are at record levels. However, these absolute profits mask underlying business challenges and are speciously leading the industry to delay essential operating model transformation.

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