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Banks Increase Cloud Spending, Infosys Reports Surge in Demand

Banks Increase Cloud Spending, Infosys Reports Surge in Demand
The Silicon Review
07 October, 2024

Cloud computing solutions provide flexibility and resilience as the banking industry moves through an increasingly digital landscape

Infosys, a global leader in digital services and consulting, has observed a significant rise in cloud adoption among banks, reflecting a growing commitment to digital transformation. Financial institutions are expected to invest more in the cloud due to the need for improved scalability, operational efficiency, and strong security, according to recent findings released by the company.

Cloud computing solutions provide flexibility and resilience as the banking industry moves through an increasingly digital landscape. In order to stay competitive in the market and satisfy the increasing demands of their customers for smooth digital experiences, banks are placing a high priority on cloud technology. Cloud infrastructure integration promotes innovation in fields like artificial intelligence (AI), machine learning (ML), and data analytics, allowing banks to better manage risks, customize services, and adhere to strict regulatory standards. Infosys has been crucial in helping banks with their digital transformation and cloud migration efforts. Banks are now able to expand operations while maintaining industry standards because of its array of cloud services, which includes Infosys Cobalt.

According to the company's analysis, banks worldwide plan to increase their investments in multi-cloud and hybrid systems, especially to address security issues and gain more flexibility. In a period of rapid technological advancement, the industry is pushing for modernization of legacy systems and future-proofing of its IT infrastructures. With this increase in demand, Infosys is well-positioned to keep setting the standard for innovative cloud solutions for the banking industry.

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