Embracing Multi-Cloud Strategies in the Banking Sector

EasyChair Preprint 13369

Abstract

The banking industry faces unprecedented challenges in the digital era, characterized by rapidly evolving customer expectations, increasing data volumes, and stringent regulatory requirements. To address these complexities, banks are increasingly embracing multi-cloud strategies as a strategic approach to leverage the strengths and capabilities of various cloud providers.

This paper examines the key drivers behind adopting multi-cloud strategies in the banking sector. The primary motivations include managing the growing complexity of data and workloads, complying with regulatory mandates, ensuring high availability and resilience, and optimizing costs through resource flexibility.

The paper delves into the critical considerations for implementing successful multi-cloud strategies in banking. These include robust data governance and security measures, ensuring application portability and interoperability across cloud platforms, and optimizing operational efficiency and cost management.

Keyphrases: Banking Industry, Cloud Computing, Digital Transformation, Multi-cloud strategy, Operational Agility, cost optimization

@booklet{EasyChair:13369,
  author    = {Ayuns Luz},
  title     = {Embracing Multi-Cloud Strategies in the Banking Sector},
  howpublished = {EasyChair Preprint 13369},
  year      = {EasyChair, 2024}}