IDC MaturityScape Benchmark: Cloud in Banking in Asia/Pacific, 2017

February 2017 •
17 pages •
Report ID: 4747902 •
Format: PDF

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This IDC study presents the results of IDC's 2016 Cloud View Survey for cloud maturity in Asia/Pacific banking. The IDC MaturityScape Benchmark enables these banks to assess their adoption and use of cloud technologies against industry peers and to support strategies to progress in the use of cloud based on their business goals. This study should be viewed as a supplement to IDC MaturityScape: Cloud in Global Retail Banking (IDC #US40663215, December 2015) and IDC MaturityScape Benchmark: Cloud in Retail Banking Worldwide, 2016 (IDC #US41516316, June 2016). Together, they provide a comprehensive overview of IDC's cloud maturity model and help guide banks, especially in Asia/Pacific, in answering the following questions:How will cloud affect the way we do business?What is the role of cloud in supporting business change?Where are we on a maturity scale for cloud competencies in terms of what the business needs? Where are our peers and competitors?What metrics should we use to improve and achieve the level of maturity that the business needs?"Cloud adoption will scale up beginning 2017, especially due to growing government support for cloud and the intensifying competitive pressures that force Asia/Pacific banks to look at what cloud can offer with regard to cost take-out and quicker go-to-market. We see a group of 20 Asia/Pacific banks that are effectively cloud-first in architecture. Early adopters will enjoy cost take-out of up to 20% between now and 2019," says Michael Araneta, Associate Vice President for IDC Financial Insights."Banks will need to identify which assets, infrastructure, and applications can first move to cloud. Application owners from the business will have to work with IT to put a lens on workloads, data, and systems, and look for those that are already tuned for cloud and the implications that the migration to cloud will have on business objectives," adds Sneha Kapoor, Senior Research Manager for IDC Financial Insights Asia/Pacific.

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