The transformation seen in the cloud for financial services has been nothing short of phenomenal, especially during the last few years. Then when the pandemic hit, cloud services were in such demand that many financial institutions were impressed with the ease with which their workforce was easily able to transition to remote office work without too many hiccups. It was evident that an “underlying digital transformation” had begun years ago to help modernize the workplace.

Apart from the obvious Zoom meetings and other collaboration tools flooding the market both before and during the pandemic, greater reliance on cloud-based services was also an obvious trend that was underway in the financial world. These shifts were seen as advantageous as compared to the past where the big banks were reluctant to take the big leap into the cloud. However, things have changed now and they are more vocal about their adoption of cloud tech. For many big banks, it was a question of staying competitive and relevant in an area in which they were reluctant and did not want to undergo any rapid changes in procedures and manners of handling sensitive customer data.