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26 July 2022 News Podcast Temenos

Cloud banking in 2022: Benefits, Trends & Predictions

Formpipe and Temenos discuss why an increasing number of banks are moving to the cloud and how conversations are shifting, in our podcast ‘Beyond the Document’.

Cloud-based solutions are becoming widely adopted by banks and financial institutions as an effective means to simplify processes, improve security and provide more diverse service offerings for customers. The shift has been a slow burn, but confidence in the cloud across the banking industry is now skyrocketing. So, we ask, what are the benefits of cloud banking and is it the future?

We’ve been exploring this subject alongside a leading industry expert in the latest episode of ‘Beyond the Document’ – Formpipe’s official monthly podcast which lifts the lid on Output, Document and Customer Communications Management.

This month, Formpipe’s Ben Saxton sits down with Ermes Dajko, Senior Cloud Solutions Architect for powerhouse global banking platform Temenos. Ermes plays a pivotal role at Temenos in helping banking customers with their journey to the cloud. This includes offering advice and support when it comes to architecture, integration, security, governance, and more.

The pair discuss the benefits that can be recognised by moving to a true open banking cloud.

You’ll learn about the evolution of cloud banking over the past 10 years, the key drivers for banks adopting the cloud, the main benefits of doing so, and Ermes’ predictions for the future.

Here’s what you can expect from this month’s episode:

Evolution of cloud banking

As part of his role, Ermes works with a wide range of stakeholders from technical professionals such as Developers and DevOps Engineers, right through to C-Level Executives within banks.

How have their conversations shifted over the past 10 years when it comes to cloud banking?

Well, it used to be a matter of ‘when’ and now it’s a matter of ‘why not?’.

Previously, it was a vendor’s job to ‘sell the benefits’ of cloud vs on-premise to banks. Now, with most banks already having an opinion on the cloud, these arguments go wider than the importance of it, but also involve addressing factors such as what it means over a PaaS or a SaaS model.

Standardisation and the levelling up of the ‘Model Bank’

Another key consideration for banks moving to the cloud is whether they should run it themselves or work with a vendor to operate banking capabilities as a service.

Standardisation and the ‘Model Bank’ has been one of Temenos’s biggest selling-factors over the past two decades. With the introduction of cloud, vendors such as Temenos have to couple those services with their cloud offering.

Ermes says:

“So it's not just the business functionality, it's how you provide that with security, with governance, with DevOps, with extensibility. So, in my opinion, the banking cloud is like the second gen of the Model Bank.”

In the podcast, Ermes explains why 'The Model Bank' has been such a success for Temenos and how cloud banking is revolutionising this approach.

Cloud = minimising costs

One of the key drivers for banks looking to adopt the cloud is to minimise expenditure. There’s no need to purchase hardware or spend more to monitor and maintain it, the cloud digitises these resources.

Interestingly, Ermes shares that the discussion to move to the cloud is often steered by the CFO, not the CTO or the CIO. In the chat, he explains why this is the case and how it relates to moving from CapEx to OpEx.

Also, as considerations have shifted to PaaS vs SaaS, the second dimension of cost is employing DevOps Engineers to deploy and manage the applications.

How can a SaaS model further reduce expenditure and standardise the 'people' aspect of this process? Ermes gives his take.

The banking cloud as an ecosystem

The banking cloud is evolving and becoming an ‘ecosystem’. Ermes explains: “But it's not just about the banking services, it's also about the ecosystem, because our banking capabilities alone, they need to be complemented with peripheral applications such as Formpipe’s”.

Microsoft Azure has also transformed into a marketplace of services on a PaaS level, where users can deploy databases and third-party solutions. “We see the Temenos banking cloud plus exchange becoming that on the SAS level” says Ermes.

Predictions for the future

Want to know Ermes’ predictions for the future of cloud banking? Listen to the episode to find out. At 20 minutes long, it provides perfect listening for that train ride to work.


What piece of IoT does Ermes say could be ‘modernised’ with up-and-coming technologies?

  1. Wearable health monitors
  2. Cash machines
  3. AI voice assistants

Here’s the link to listen on Spotify, or just hit play at the top of this article.