Banks have started to come to terms with the importance of the cloud and what it means to their business; moving to the cloud will allow banks to cut costs and become more efficient overall; Capital One plans to move their entire operation to the cloud by 2020, other banks like TD Bank are taking a more measured approach; TD has first moved their 85,000 employees to Office 365 which has helped improve customer and employee user experience; they have started to move certain applications to the cloud but are not rushing to move everything; banks moving to the cloud is assisted by firms like Microsoft and Amazon who have spent more on security than most banks; the cloud has the potential to put firms at risk, but the benefits of being more efficient and modern outweigh those risk factors. Source.
