Getting Cloud right

The cloud has become instrumental for businesses to thrive in today’s fast-evolving competitive marketplace. Technology providers are increasingly moving to the cloud, while on-premise deployments decline.

While cloud has become the pillar of IT across industries, banks have been reluctant to exploring cloud options. This Deloitte report deep dives into six areas of cloud that are particularly relevant to the financial services sector. 

The case of Switzerland: How do Swiss banks cope with regulations around cloud?

On 26 March 2019 the Swiss Bankers Association (SBA) published a set of guidelines on cloud banking, containing recommendations designed to increase legal certainty and help Swiss banks make more extensive use of cloud services.¹

Microsoft plans to offer organisations cloud services from data centre locations in the regions of Geneva and Zurich, providing data residency in Switzerland to support Swiss companies and institutions - including the financial services industry - in the next steps of their digital transformation. The Microsoft Cloud from Swiss data centres is expected to be available from summer 2019.²

Google Cloud Platform has been live in Zurich since March 20 giving companies doing business in Switzerland more opportunities with lower latency access to their data and workloads.³

IBM, Swisscom and other providers offer private cloud services to banks, in addition to the before mentioned hyperscale cloud services from Google and Microsoft.

¹Swiss Banking Associations, “Cloud Guidelines, a guide to secure cloud computing,” 26 March 2019. Read more.

²Microsoft Schweiz, “News,” 5 March 2019.  

³Google Cloud, “Infrastructure,” 12 March 2019. Read more.

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