You’re watching a top moment from the Industry Cloud Battleground Week with analyst Wayne Sadin highlighting the financial services industry. This five-day digital event, which premiered in November 2021, delivered insights to inspire, educate and engage business and technology leaders who are actively defining their industry-specific cloud strategy.
Highlights
00:09 — Beyond banks, the financial services industry is embedded in everyday life.
00:27 — However, the industry is dominated by mega institutions with large installed bases of legacy technology. For instance, the major banks commonly have a billion dollars worth of installed software and put more into building onto that base.
00:46 — Startup FinTech companies are introducing the idea that everyone needs banking services, but without needing a physical bank. This startup revolution has led to these small companies trying to work around regulations and work with established players in the financial services industry.
