Three key cloud benefits for the banking industry

To increase their agility and go beyond the limits of costly on-premises infrastructure, banks are looking at technology and how it can help them transform and achieve more. The cloud's lower total cost of ownership, greater flexibility, and higher speed are helping banks achieve three key results: optimize resources, innovate faster, and improve compliance.

Business people talking while walking

  1. Optimize resources. By reducing the cost of on-premises IT infrastructure and associated personnel, the cloud enables banks to invest more in their business and expand to emerging markets. By minimizing IT costs, it frees up resources that can be used to drive business transformation.

  2. Innovate and adapt faster. Rather than invest in IT capital projects, banks can develop, launch, and update products and services within hours or days instead of months. The cloud's increased processing power accelerates data analysis, and its adaptability makes it easier to update infrastructure or integrate with other solutions.

  3. Improve compliance. With the capability to handle increased transaction volumes and complex workloads, the cloud helps banks keep up with strict compliance standards. It also enables banks to mitigate risk by offloading data protection, fault tolerance, and disaster recovery to cloud providers with data management and IT expertise.

An example of how the banking industry gains these benefits from the cloud is the Temenos Screen app, which screens financial transactions to keep funds away from terrorists and other sanctioned groups. The cloud enables the solution to run many complex screening algorithms in real time, including direct matching, character-based literal screening, relaxed pattern matching, lexical screening, and more. Easy to implement, Screen delivers comprehensive, efficient transaction screening in real time, with the speed, scalability, and flexibility of the cloud.

A free trial experience of Screen, including its Transaction Alert Manager, Watch List Manager, and Knowledge Manager functions, is available on AppSource.

You can read more about how banks can use the cloud to achieve greater efficiency on the Microsoft Enterprise blog.

AppSource offers a range of industry and role-specific solutions built on the Microsoft platform to help organizations do more. You can browse the growing library of apps to see what Microsoft's partner community is building for your industry.