Investing in innovation: AWS on how financial firms are turning to the cloud to meet and exceed customer expectations – ITP.net

Investing in innovation: AWS on how financial firms are turning to the cloud to meet and exceed customer expectations – ITP.net

The financial services sector is often viewed as one of the most traditional industries. However, over the last few years, financial services firms have made notable strides in embracing digital transformation. Many are investing in technologies to deliver the best possible experiences to today’s increasingly digital-first customers.

In the Middle East and Africa, the banking and finance industry’s spending on information and communications technology (ICT) is expected to reach $15.24 billion by 2023, according to IDC. The global analyst firm also pointed out that financial institutions are increasingly embracing advanced technologies to streamline operations, cut costs, and maximise efficiencies.

“By leveraging cloud technologies, financial firms have the opportunity to drive business growth by being better positioned to anticipate change, double down on innovation and experimentation, and build and scale new solutions faster at lower costs,” explains Lynne Zeldenryk, EMEA Financial Services Lead, AWS.