CORE BANKING ON CLOUD - A PASSING FAD OR THE FUTURE OF CORE BANKING TRANSFORMATION?
In short, cloud computing is an enabler for the next wave of bank transformation projects. It has become imperative for banks today to adapt and innovate at a rapid pace to cater to the ever-changing customer demands. Reshaping and reinventing core operations will be a step forward towards becoming a more customer-centric and efficient organization—a need of the hour for most banks today. Cloud offers banks the flexibility to have minimal capital investment, variable pricing options such as pay per use for the customer, quick product deployment and lower operating costs.