Press contact:Fahd PashaTel.: + 1 647 860 3777E-mail: Fahd.Pasha@capgemini.com Majority of banks and insurers struggle to maximize the value from their cloud investments Less than 40% of financial services executives say they are highly satisfied with their cloud outcomes Most banks and insurers adopt cloud solutions with the primary objective to drive operational efficiency (84%) Protecting customer data and maintaining privacy is a challenge for the industry Paris, November 14, 2024 – The Capgemini Research Institute’s World Cloud Report for Financial Services 2025, published today, reveals a clear divide between how traditional and new-age financial institutions1 view their cloud technology investments.
To find out more or to subscribe to receive reports as they launch, visit To find out more or to subscribe to receive reports as they launch, visit 1 New-age financial institutions refer to digital-native companies that leverage technology to revolutionize financial services, offering innovative and customer-centric solutions across banking, payments, and insurance.2 Cloud innovators are companies that have a well-defined cloud strategy supported by scalable platforms and mature ecosystem partnerships enabled by advanced technology capabilities.
According to the report, three main concerns were highlighted by the majority of industry executives: Legacy systems impeding siloed data integration (71%)Protection of customer data and difficulty in maintaining privacy (70%)Lackluster data quality, including incorrect and missing information (69%) With Europe’s Digital Operational Resilience Act (DORA) set to take effect in January 2025, and mounting regulatory pressures worldwide, financial institutions will soon face even more stringent compliance requirements, particularly over the increased use of technology platforms and third parties.
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