Google advocates hybrid and multicloud strategy because it helps guide financial giants in the digital age
Just a few years ago, the idea of large financial services companies partnering with cloud providers would have been laughable.
Today, the financial industry is adopting cloud computing services as quickly as possible. What changed?
“Customers are looking for personalized services, instant gratification, the ability to interact, where and when they want,” said Yolande Piazza (photo, left), vice president of financial services at Google Cloud. “[They] want to be a segmentation of one. They don’t want to be forced to integrate into traditional banking ecosystems.
Piazza and Zac Maufe (photo, right), managing director of global financial services solutions at Google Cloud, chatted with David Nicholson, host of theCUBE, SiliconANGLE Media’s live streaming studio, for a CUBE digital conversation on adoption of the cloud in the financial services space.
The financial industry discovers the benefits of the cloud
As technology launches a new model for the financial services industry, the shift from a 100% on-premises model to a hybrid cloud model with multiple cloud providers “could not and should not be done alone,” according to Piazza .
Wells Fargo, HSBC Holdings and The Bank of Nova Scotia (AKA Scotiabank) are three of the financial behemoths that have partnered with Google as they navigate the complex world of the cloud. Interestingly, they choose flexible strategies and refuse to be tied to a single cloud provider.
“Well [Fargo] announced that it is taking a multicloud approach to its digital infrastructure strategy, leveraging both Google Cloud and Microsoft Azure, ”Piazza said, adding that multicloud is a common approach for Google customers.
“At Google, we’ve always said that we support open multi and hybrid cloud strategies because we believe our customers should be able to perform what they want, where they want. And that was exactly the philosophy that Wells [Fargo] taken, ”she said.
Once businesses move from an on-premises platform to a cloud platform, they discover new business cases for the technology, according to Maufe.
“A lot of that for us is about data, artificial intelligence, and the machine learning space,” he said. “We see that this is the way to unlock huge amounts of value.”
Being part of financial services in 2021 is a whole different world, according to Piazza.
“The conversations are fun and refreshing, and you can start to see how we have the ability to come together to change the landscape across all different sectors of financial services,” she said.
Watch the full video interview below and be sure to learn more about SiliconANGLE and theCUBE CUBE Conversations.