Data centres


Centres vs the cloud: riding out the data wave


Banks need to differentiate themselves from their competitors through innovative services, personalisation and consistent performance. With a pandemic pushing more transactions towards digital channels, they are moving more and more data into the cloud in search of agility. With the help of Brendan Donovan, global head of IT infrastructure at Internationale Nederlanden Groep (ING), Jim Banks examines how banks are approaching the choice between operating their own data centres and moving to the cloud.


he financial services sector is awash with data, and the tide is rising every year. This leaves banks with two major challenges – where to keep that data and how to use it.


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The global Covid-19 pandemic has made the first of those problems more pressing, as it has driven more traffic to digital services and accelerated the need for banks to push forward with digitalisation programmes to handle a growing volume of digital


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payments and online banking requests. In 2020, for example, Dutch bank ING saw mobile payments more than double to in excess of 560 million. In a world where financial institutions need to be agile, adaptable and innovative to satisfy their customers, and stand out from their competitors, the flexibility and scalability of cloud services has driven more data into the cloud. But will this kill the need for banks to operate their own data centres?


Future Banking / www.nsbanking.com


BsWei/Shutterstock.com


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