NEW YORK & LONDON, July 13, 2016 (GLOBE NEWSWIRE) -- The debate around cloud adoption by capital markets has focused on whether the public cloud is ready for financial services. Results from the latest TABB Group research indicate the real question is whether capital markets are ready for the cloud. TABB research, “A Look Through the Keyhole on Cloud Adoption,” provides an exclusive look on current and future cloud adoption within capital markets, based on interviews with senior executives from leading exchanges, sell- and buy-side firms.
TABB principal and head of FinTech research Terry Roche, who authored the report, explains the overall cost model of financial services is broken and firms must now focus on cost of operations due to the tremendous expenditure associated with achieving regulatory compliance. The report also details how the industry believes the cloud will be an important part of their operations in the future. Cloud enabled services can help to realize significant operational efficiencies and over time provide enhanced business insight and services.
“The cost model of the capital markets industry is unsustainable,” says Roche. “A step change transformation is required to realize the benefit of lowered operational costs offered by the cloud. However, the transition to cloud-ready services for capital markets institutions and their clients offers material innovation benefits.”
The report identifies a number of the immediate opportunities where cloud technology offers significant technical and business innovation, such as advanced analytics, machine learning and the ability to access micro services. Overall, executives TABB spoke with believed action is needed for survival and as the research shows, widespread adoption of public cloud is expected within two to five years.
“With the financial services industry embracing utility services like never before, participants adopting a cloud-native approach will be well positioned to achieve the biggest benefits from the resulting oceans of data. Whether the technology solution is big data, blockchain or machine learning, the enabling technology behind it is the cloud,” Roche says.
The 24-page, 7-exhibit report can be downloaded by TABB’s Research Alliance members and pre-qualified media at https://research.tabbgroup.com/search/grid. For more information or to purchase the report, contact email@example.com.
About TABB Group
With offices in New York and London, TABB Group is the international research and consulting firm focused exclusively on capital markets, based on the interview-based, “first-person knowledge” research methodology developed by Larry Tabb. For more information, visit www.tabbgroup.com.
Contact: Casey Sheets, TABB Group +1 646-747-3207 / firstname.lastname@example.org