If further evidence was needed, the successful £322m fundraising by UK’s Starling Bank is a clear signal that digital-first newcomers will continue to force change in the banking industry, impacting long-established banking brands. To find their way back to the surface of this maelstrom of change, a step-change in traditional banks’ revamping of legacy technologies must be a priority.
Cloud Service Provider
Today, cloud computing is not only critical to the future success of the European financial sector. It also sits at the heart of the continent’s COVID-19 economic recovery plan. However, due to concerns relating to regional independence and operational resilience, the European Commission (EC) is wary of financial institutions central to Europe’s success becoming too dependent on individual cloud providers.