Banks and insurers worldwide have embarked on digital transformation journeys leveraging cloud – seeking to catalyze growth in today’s increasingly complex business environment. But inefficient cloud cost management, lift-and-shift migration strategies, rapid application scaling, and more have prevented many financial services firms from realizing the maximum benefits of their cloud investments to date.

The World Cloud Report – Financial Services 2025 reflects the views of 600 financial services leaders across banking and insurance domains, as well as 120 senior FinTech and InsurTech executives, with both groups drawn from across 13 markets; these markets represent all regions of the globe – the Americas, Europe, and Asia-Pacific. In addition, the report includes insights from more than 20 focused interviews with cloud experts holding leadership positions across banks, insurance companies, and hyperscalers around the globe.

Our report’s analysis suggests that only a small group of financial services institutions globally – 12 percent¹ – can be classified as true cloud innovators who leverage a well-defined cloud vision, supported by scalable platforms and mature ecosystems, to generate superior top-line results. For others looking to propel their own cloud journeys, the report recommends a roadmap including the following key mileposts:

• Migrate to appropriate cloud platforms and use relevant data integration, processing, and analytics technologies
• Leverage the cloud to foster a culture of collaboration and innovation, enabling real-time idea sharing and iteration as well as opportunity for experimentation with new technology
• Deliver improved top-line growth through platform-based business models and omnichannel engagement, increased data monetization through cloud analytics, expanded market reach and impact, and faster product innovation.

Cloud adoption is a journey, not simply a destination. Financial services organizations that adopt a data-driven, cloud-focused, and customer-centric approach can harness the power of cloud transformation to achieve strategic goals and unlock unprecedented business value.