For financial institutions, the first months of 2020 were a test of operational agility. In response to COVID-19's chaos, including branch shutdowns, concerns about employee health and safety, and shifting government mandates, the financial firms best able to pivot were those that were already well into their cloud journeys. Such firms leveraged a cloud foundation to support remote workers, protect data assets, serve customer and partners, and change, update, and manage critical business software on the fly. The 2020 Frost & Sullivan Global Cloud User Survey emphasizes the divide between digitally mature financial organizations and those that have been slower to embrace transformative technologies. It also reveals the challenges that still remain in 2021.

Author: Lynda Stadtmueller