Banking’s Cloud

The banking industry’s competitive environment has changed. There is no longer an advantage for a bank to have cloud competence in Oracle Flexcube—cloud mastery is essential. However, according to the most recent edition of our Banking Cloud Altimeter, more than 65 percent of banks are unable to get the value they anticipate from cloud computing. Focusing on alignment, ability, and adoption—also known as “The Three As”—is an effective strategy for cloud mastery, according to our experience. We’ll go a little more into the concept of ability in this article.

A power accelerant or a formidable barrier

A company’s ability is the sum total of cloud transformation capabilities that exist across the organization, not simply in the IT department. Both technical skills and traits like a growth attitude and the ability to adapt quickly are required. Future success depends on the development of new digital skills and cultures that are fuelled by growth mindsets. Check out the AWS course for overall knowledge of clouds.

According to the Modern Cloud Champions research on cloud transformation, Ability is critical to cloud transition in Oracle Flexcube universal banking. Digital fluency throughout the whole business, greater worker productivity, and cheaper expenses for training and development are some of the advantages of cloud leaders over their competitors.

Cloud Champions in banking, on the other hand, include:

  • 1.8 times more likely to have the skills required to transform into a cloud-enabled organization
  • 1.8 times more likely to be able to develop future talent at scale
  • 4.6 times more likely to have the skills required to transform into a cloud-enabled organization
  • 1.3 times more likely to promote a growth mindset among the workforce

On the other hand, Cloud transformation is hindered by a lack of organizational capability.

When asked about the three main obstacles to their company’s move to the cloud, 36% of IT and business executives said a lack of cloud skills was one of the three most important considerations. 46 percent of IT and business executives said security and compliance risk was their top three worries, by contrast.)

Hiring, on the other hand, isn’t a practical answer to the cloud skills gap. According to Global Knowledge research, companies find it difficult to find cloud talent. On average, it takes eight months to successfully hire essential cloud resources.

If banks want to dominate cloud computing, they’ll need to concentrate on reskilling their current workforce. To get the most out of its cloud investments, a bank needs this in order to be as flexible and valuable as possible.

The development of soft skills is equally as crucial as learning technical ones. Companies that are looking at digital transformation are often focused only on technology. Strategic purpose and human competencies are necessary for digital success, though. 79 percent of digital transformation programs are delayed, scaled-down, or fail due to a lack of this combination.

There must be a shift in how the whole company operates and a development of digital fluency that goes beyond just using digital technologies. To be digitally fluent, one must be able to utilize the tools at their disposal to produce original work.

We should also mention that workers in the business want to improve their digital fluency. Workers were asked what new talents they would like to acquire in a survey. Security (69%) was the most often mentioned concern, followed by digital collaboration tools (66%) and cloud computing technologies (66%).

As a result, how can banks ensure that their employees have the digital fluency they need? In order to be successful, they need individuals with a growth mentality, a set of essential talents, and a clear vision (to see value for themselves and the company). Each of these three aspects should be considered while developing a digital skillset.

The science and art of learning the cloud

It’s possible to use cloud adoption to cultivate a community of self-directed learners in your company. Employees may acquire new skills at a surprising pace when provided with digital, experiential learning and encouraged to learn what they need to know when they need it. Suppose organizations are going to help their employees gain new skills and cultivate a culture of learning. In that case, they need to tailor and speed up the learning trips they give to their employees.

The report is learning. A poll of more than 1,100 banking executives in 11 regions across the globe, based on the responses of over 1,100 people, provides a route ahead. The cloud leaders were found to be substantially more likely than their rivals to:

  • Workplaces that foster an environment of continual learning, using technology to match training to job abilities, and experimenting with new approaches like gamification, augmented reality, and virtual reality should be encouraged.
  • There is a lot of data out there that supports these conclusions. From our past research on learning, we know that multimodal, effortful, spread out across time, and related to a meaningful environment for the learner are all critical components of effective learning.

Provide a learning experience for busy financial services workers that may accomplish the following goals:

  • To swiftly absorb new information, provide it in “byte-sized” microlearning portions.
  • Accessible at any time, from any location, and on any device.
  • Connecting students with their peers allow them to discuss their success and refer other students to their peers.
  • Acquire a thorough understanding of its audience, and then tailor your approach accordingly.
  • Use the greatest information available from vetted experts in the field.
  • Engage your employees regularly so that it becomes part of their daily routine.
  • Gamify it to foster a feeling of accomplishment, enjoyment, and goodwill among participants.

A financial services company’s cloud journey may be improved and its agility boosted by delivering learning in this manner. Additionally, this will provide several extra advantages, such as enhanced value generation, stronger cooperation, better change management, improved human resources practices, more innovation, and a better customer experience are some of the benefits of better collaboration.


When it comes to workforce training, it is vital to aim for a “flow” state in the learner, which is characterized by strong participation in the present technology, such as Oracle Flexcube 14.x. Distractions fade away while we’re in flow, and we’re able to perform at our maximum level.


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