Chapter 2 – Cloud Transformation Accelerators For Banks to Maximize ROI
This chapter investigates the role cloud transformation accelerators can play in helping banks maximize their ROI and build a sustainable business model. These accelerators have been derived from Wipro’s experience with clients’ transformation projects and backed by our Wipro FullStride Cloud Services survey data.
- Banks registered average revenue growth of 4% by using cloud to create new products, services and business models, and reduced average cost by 3.2%
- Survey results debunked the general belief that banks undertake cloud transformation principally to focus on cost efficiencies.
- Cloud leaders are focusing on embracing both innovation and cost efficiency simultaneously, rather than picking one at a time.
- Successful leaders in cloud adoption achieve both revenue growth and cost efficiencies, and at a level significantly higher than cloud beginners and intermediate.
Wipro and Capco global banking research report series, Chapter 2 – Reaching for the Cloud: A Proposition for Leaders, for more details on how banks can accelerate cloud adoption and how cloud transformation accelerators maximize ROI.