How FSI organisations can unlock the true potential of their cloud investment and stay ahead of the competition

Date posted
2 April 2021
Reading time
3 minutes
Matt Horsham
Head of Financial Services and Insurance ·

The Financial Services industry is experiencing unprecedented competition. Not only from traditional providers but also the new entrants from retail, big technology and others. To transform, profit and grow, FSI organisations need to create new customer engagements, find new ways to generate revenue and continue to reduce expenses. Let's not kid ourselves either, it's not easy to reimagine your business models to meet the continually evolving demands of the market, customers, partners and let's not forget the regulators; but there are ways to unlock and fast track the journey to becoming a more digitally enabled FSI business.

Steps to overcome the challenges of running and managing a sprawling legacy IT estate are already well underway, with cloud technology seen as an effective tool in reducing costs while also addressing industry-specific challenges. However, some elements of modernisation are easier than others. Roadblocks can occur throughout the cloud journey. Complexity or a lack of confidence can slow the process early on, while fear of touching business-critical systems might lead to a stop decision much further into a migration. You may have fully or very nearly completed your migration but are yet to unlock the benefits the cloud can provide.

The alternative for FSI organisations at any stage of their migration journey is to leverage the skills and experience of a trusted cloud migration and modernisation partner, one who understands the challenges faced having been on this journey and learnt lessons many times over in the past. An experienced and trusted cloud partner will put innovation at the centre of everything they do and help FSI organisations develop and future proof their businesses. You will have access to instant capabilities and subject matter expertise, helping you:

  • Build an open ecosystem allowing for advanced innovation

  • Become an intelligent business through data analysis, artificial intelligence and machine learning

  • Improve and continually drive customer prominence, be truly customer-centric

  • Develop new products and offering using services at your immediate disposal

  • Ensure you are continually conforming to business security, resilience, compliance and governance

  • Become a truly digital FSI business and ensure you are safeguarded for the future

A good cloud migration and modernisation partner will help you build secure, resilient cloud infrastructure and services helping you differentiate your business today and adapt to the needs of tomorrow. Your partner will help you deliver against the most stringent security requirements, using the greatest breadth and depth of services and the industry expertise you will need. You will be empowered to safely and quickly modernise your infrastructure and continue to do this iteratively, meeting the rapidly changing customer behaviours and expectations, whilst driving business growth.

A project that once looked like a drawn out, expensive and complex goal can now be realised through a partner who will support you through your migration and modernisation journey enabling you to:

Replace or modernise legacy systems, affording you improved agility and scale. Running old systems depletes valuable resources for innovating. Access the broadest set of migration services and tools and build and operate high-performing, resilient systems whilst realising cost savings and reducing risk.

Meet rapidly changing behaviours and expectations. Customers want access to information from any device, any location, at any time. Utilise ready-to-use services for enhanced experiences, analyse and process data to uncover what is important.

Drive business growth by harnessing data and innovation. Analysing data is crucial to business growth and product innovation. Explore new ideas within a secure data platform, build quickly using microservices-based platforms and engage partners for new products and capabilities.

Build with confidence on the most secure, compliant, resilient clouds. Industry regulators enforce strict rules about data privacy and reporting. Ensure data integrity with the most secure infrastructure and meet data residency requirements by geographic locations.

So where to next?

At Kainos when we say "we do the difficult stuff" we really mean it. With advanced application and cloud engineering expertise, we're trusted by 100s of organisations to complete the most complex cloud projects. Our customers know us better than anyone, so I'll let them have the final word in describing their experiences of working with Kainos.

"We have gone from a sketch in a coffee shop, to a working state of the art system, with great scale and future capability. We have already noticed the change in dynamic and business engagement"

Adrian Daniel, Head of Data Platforms, NewDay

"We knew what we wanted but were unsure how to achieve it, so engaging a delivery partner we could trust was vital. From the Discovery process, Kainos's experience and capability was clear and the relationship built from there. Their leadership has been essential to delivering our goals and achieving our vision of being a leading provider for digital payments in Europe."

Daniel Emmanuilidis, SmartPay Programme Director, Concardis

We are passionate about helping financial services organisations overcome their most difficult cloud migration hurdles by enabling them to re-imagine their technology platform in the cloud, with our 'Ambition to Reality' approach we help FS organisations unlock the true value of the cloud in just 30 days. To find out more about our unique approach and how we can help you unlock the true value of cloud click here.

About the author

Matt Horsham
Head of Financial Services and Insurance ·
Matt has over 10 years of experience leading digital transformation projects in FS industries and is dedicated to bringing value to customers through digitisation and cloud-first strategy.