Leading Technology- Driven Growth

Financial services organizations recognize the first-mover advantage of successful change. Yet until recently, banks had been cautious with multicloud. While accelerating business value in pockets, fully modernizing with multi-cloud was viewed as complex and risky, the pandemic changed everything. Sterling National Bank, a prime example, was one of the first traditional banks to fully embrace the public cloud. Working with VMware and Deloitte, the bank was able to exit two data centers within a year. Additionally, even with the limitations posed by the COVID-19 pandemic, Sterling was able to implement a scalable, reliable and secure platform, and embrace other new technologies.

“I’m more concerned about not being bold enough than about being too cautious,” one CEO emerging from the crisis and navigating fast-paced economic recovery recently explained to McKinsey & Company. “The clear implication,” McKinsey analysts assert, is that “CIOs need to make the leap from tech leader to business driver.” That starts with these critical make-or break priorities that better align IT with business goals:

• Know your customer as well as you know your technology in order to shape strategy, not just implement it
• Put cloud at the center of your financial services strategy to capture its full value
• Make the developer experience the cornerstone of talent strategy, upgrading existing workplaces as a critical first step

Financial services organizations that move fastest will be best positioned to scale business, accelerate innovation, transform customer experience, and drive growth, while increasing employee engagement and productivity. What’s now essential to achieving digital business success and staying competitive is technology architected for agility, flexibility, security, and consistent operations. This includes a platform capable of ensuring banks can efficiently and effectively rationalize their app portfolios for modernization, take advantage of multiple cloud platforms and services, and empower their anywhere workforces.

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