EMEA Banks Embrace Hybrid Cloud for Payment Modernization

Financial institutions across the EMEA region are increasingly adopting hybrid cloud models to modernise their payment systems. According to Oscar Musat, a representative of Volante Technologies, this strategic approach allows banks to enhance their operational efficiency while maintaining essential control over their infrastructure.

The push towards innovation in banking is evident. Musat noted that banks are eager to modernise quickly but are hesitant to relinquish complete control. The hybrid cloud model provides a balanced solution, enabling institutions to deploy services at a faster pace and scale operations more effectively. This flexibility is particularly crucial for meeting stringent requirements related to data governance and compliance.

Choosing the right technology partner is becoming increasingly important. Musat explained that banks face mounting pressure to innovate rapidly, and the repercussions of missteps can be significant. Factors such as trust, capability, and long-term scalability are paramount in this decision-making process. Musat emphasised Volante’s commitment to being a reliable partner, enabling customers to evolve swiftly through collaboration and innovation.

Regional Trends in Cloud Adoption

Adoption trends vary significantly across the EMEA region. Musat highlighted that Southern Europe, especially Spain, is leading the way in compliance and platform-as-a-service adoption. This region is investing substantially to advance its technological capabilities, setting a benchmark for others to follow.

In contrast, the UK is taking a more cautious stance regarding cloud adoption. Financial institutions there are being careful with budget allocations and are more reserved in their approach to cloud technologies. The Nordics are also noteworthy, prioritising security in their cloud strategies. This focus on security reflects a broader trend among banks in these countries to ensure robust protection of sensitive data.

As the financial landscape continues to evolve, the hybrid cloud model appears to be a viable pathway for banks striving to modernise their payment systems. By leveraging the strengths of hybrid solutions, institutions can navigate the complexities of innovation while adhering to necessary regulatory standards. The collaboration between technology partners like Volante and financial institutions will be crucial in shaping the future of banking in the EMEA region.