Key Takeaways from the Discussion
The Evolving Banking and Capital Markets Landscape
- Increased focus on digitization, personalization, and reducing friction in customer experiences
- Growing threat of cyber attacks and fraud, driving the need for enhanced security measures
- Regulatory changes like open banking creating new business and technical challenges for banks
Challenges in Cloud Migration and Modernization
- Technical debt and complex legacy systems that are critical to business operations
- Cultural resistance to change and the need to retrain the workforce
- Balancing the need to migrate to the cloud with maintaining critical functionality
- Navigating evolving regulations and ensuring compliance
Leveraging Partnerships and Expertise
- Importance of working with trusted partners like Intel and AWS to navigate the migration journey
- Benefits of optimization and performance improvements through collaboration with experts
- Overcoming the fear of the unknown by tapping into the knowledge and support of partners
Steps to Successful Modernization
- Shift mindset to a cloud-first strategy with commitment from top to bottom
- Build a clear business case and justification for cloud migration based on ROI
- Leverage the ecosystem of partners and take advantage of the technical and financial support available
The key is to approach cloud migration and modernization not as a pure technology project, but as a strategic business transformation, with the right partnerships and expertise to guide the way.
