Cloud Computing in Wealth Management | Deloitte Deutschland


Cloud Computing in Wealth Management

Helping Wealth Managers face their IT challenges with cloud services

Instead of changing the entire IT landscape, Wealth Managers can rely on business-enabling IT with the use of cloud services.

Disruptive forces in the industry

The influence of disruptive technologies is changing the Wealth Management industry. In other industries, such as media, marketing, retail, or banking, technology changes have resulted in significant shifts and disruption to previously well-established business models. For Wealth Managers, the speed of innovation and the threat of disruption vary. Significant changes have already had a major impact on their business, due to tighter regulations, changing customer needs, and shifts in the market. Wealth Managers who seriously want to establish themselves as a leading supplier of first-class advice and customer service have a lot of catching-up to do to prepare adequately for success in the long-term.

In order to keep pace and remain competitive, it is crucial that companies successfully transform, strengthen, and enhance their IT/business linkage. This enables them to meet growing customer
demands and satisfy high customer expectations. One specific substantial challenge that lies ahead of Wealth Managers is leveraging the benefits that cloud computing has to offer. Wealth Managers should give serious consideration to using this technology in their business. However, IT must be ready and requires a certain level of maturity to implement cloud computing in
its landscape.

Start of the cloud journey

Business needs to strive for clarity on vendor service levels and commercial terms, as well as their technical capabilities. Furthermore, a broad set of considerations needs to be addressed before starting the cloud journey:

  • Identification of business benefits
  • Viability check of legacy or planned applications
  • Implementation approach
  • Determination of focus on data or applications
  • Required cloud type
  • Financial considerations
  • Identification of business operation changes and challenges with cloud
  • Considerations regarding Service Provider
  • Data management in the cloud
  • Security impact of cloud adoption

Further Contacts

Dominik Moulliet
Senior Manager
Tel: +49 69 97137 198

Inan Bülbül
Tel: +49 211 8772 3091

Elias Ahnert
Senior Consultant
Tel: +49 69 97137 483