The financial services industry has seen extreme disruption in 2020, with bank branches closed and limited in-person assistance for customers.
Digital solutions like the cloud have therefore been key in maintaining operations, allowing customers to continue using banking services like making payments and managing their accounts.
The cloud gives banks the ability to scale as needed to maintain business continuity, the agility to meet growing digital banking needs, and the flexibility to transform on their own terms with unified management across hybrid cloud and multi-cloud solutions.
To provide more insight into this, Temenos recently hosted a Cloud Banking Solutions webinar in association with Google Cloud to discuss the key use cases and solutions that can help banks future-proof their cloud strategies in the Middle East and Africa.
COVID-19 drives shift to public cloud
According to Temenos Business Line Director for SaaS, Ross Mallace, COVID-19 has tested business continuity and strained private cloud resources, which has brought the stability and resilience of public cloud to the fore.
Mallace also explained what the main challenges for moving to the cloud means for banks and elaborates on what exactly can be expected from IT departments in managing cloud solutions.
“You have to look at reskilling all of your IT staff on how they can actually set up, architect, and design a complex system,” Mallace said.
From here, they will be required to manage and monitor the system’s performance, deploy patches and updates, handle security, and more, Mallace adds.
He noted that while banks could opt to handle all of this on their own, they also have the option of using Temenos’ SaaS (software-as-a-service) solutions.
This way your team does not have to deal with the complexity itself, as the solution is run and kept current by those who built it, and you only pay for what you use.
In addition to this, Regional Sales Manager of Enterprise at Google Cloud Zeid Chamma spoke about the pressures on the banking sector to modernise.
He explained that Google Cloud can help banks make their solutions more agile, decrease time to market, improve customer experience, and increase resilience.
Chamma further provided a use-case for Temenos running on Google Cloud’s Anthos modern application platform, to illustrate its capabilities for the banking industry.
If you have a vested interest in cloud solutions in the banking space, then this webinar is a must-watch.
Visit www.temenos.com/delivery/temenos-saas/ for more information.
This article was published in partnership with Temenos.