Banking Cloud Trends in Asia/Pacific in 2022: Cloud Becomes Truly Business-Critical

This IDC Perspective looks at the current state of investments into cloud by Asia/Pacific banks, noting a trend of cloud acceleration across the region. The trends highlighted are based on the comparison of the CloudPath Survey in 2021 with the current trends in 2022. There is evidently greater confidence among institutions to manage the migration to and operations in the cloud of their business-critical applications and workloads."Cloud now underpins more business applications. This is progress from previous trends in which infrastructure (networking and storage) accounted for a significant part of cloud migration projects. In 2022, improved business agility and resilience is far and away the most important business benefit reported by banks, with many applications and their associated workloads being considered as most likely to move to the cloud, from lending to digital channels, and even the all-important core banking system," says Michael Araneta, associate VP, IDC Financial Insights Asia/Pacific."Hybrid cloud environments and the use of multicloud mean a more agnostic experience for delivering container-based workloads. Expanding microservices will offer increased tangible benefits and leverage developer independence, scalability, and rapid deployment capabilities," says Clay Miller, senior executive advisor, IDC Financial Insights Asia/Pacific.