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The financial sector is changing rapidly. No market player can evade the extensive technological innovations and digital transition. Topics such as data & analytics, artificial intelligence and robotic process automation are the new pacesetters in the financial sector. This is where cloud services come into play  - because they offer the flexibility and agility required for this. The KPMG Cloud Monitor Financial Services 2022 (German-language publication) reveals that eight out of ten financial services providers are already using cloud-based technologies.

The advantages of the cloud are obvious. In particular, applications with a high demand for IT resources correlated with fluctuations (such as risk model calculation, portfolio models, early warning systems, CRM analyses, money laundering prevention and ESG data analysis) attain a previously unknown level of flexibility, performance and reliability. Software development is accelerated in the cloud, and delivery dates and release cycles are shortened. The cloud can also play to its strengths in new business areas that are subject to enormous growth or whose growth forecasts are not yet known in detail.

The use of the cloud is therefore a good basis for further developing a company's own business model with new offerings for end customers. Yet banks, insurers and asset managers also have a wide range of requirements for their in-house IT  - for that reason cloud services need to be perfectly integrated. Particularly in highly regulated environments, compliance with a large number of regulatory requirements and laws is necessary, especially those applying to cloud solutions, including MaRisk/MaGO/KAMaRisk, BAIT/VAIT/KAIT, EBA/EIOPA/ESMA guidelines on outsourcing arrangements, GDPR or BSI C5. 

Financial companies benefit in many ways from a successful cloud transformation: from IT that is more cost-effective, faster, flexible and geared to the needs of day-to-day business. In addition, many application solutions are increasingly being developed in the cloud by service providers and are only offered from there. Against this background, the company's own cloud strategy should be an important item on the agenda of every CIO. 

Our experts will help you to benefit from the full potential of the cloud and to realise strategic goals in business faster and more efficiently. From the development of a cloud strategy and cloud governance structures to technical implementation, we accompany and accelerate your cloud transformation. That said, proper implementation of compliance and security is important to us at every stage  - because we want your path to the cloud to be secure and at the same time efficient.

Have we sparked your interest? Get in contact with us! 

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