Cloud Computing Drives Banking transformation

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Recently, IBM Global Enterprise Advisory services and ICBC jointly released the "from Cloud computing to cloud-based business model-the future innovation opportunities for domestic banks" white paper. The white paper notes that cloud computing, as a new productivity, will help domestic banks build new business models, drive industry transformation and reshape the industry chain. Domestic banks should seize this opportunity to promote the transformation of China's banking sector.

The White Paper also presents seven innovative opportunities for domestic banks from the five perspectives of bank retail customers, merchants, small micro-enterprises, supply chain companies and banks and partners.

Cloud computing is a model that provides a convenient, on-demand, configurable computing resource sharing network. Cloud computing is expected to revolutionize the traditional business model of business society, drive business transformation, reshape the industrial chain and industrial structure.

In recent years, China's banking industry has undergone a leap-forward development, industrial scale has been expanding. But with this rapid development is the market competition is increasingly fierce, rising costs, customer demand increasingly complex, the profit model urgently needed to innovate and other challenges. At the same time, with the increase of the overall industrial adjustment of the Chinese banking industry, the government has put forward a high demand for the development of China's banks, which further increases the pressure of bank transformation. Cloud computing as a new business model, its unique ability is to help domestic banks in changing the marketing model, to achieve cross-sectoral cooperation, improve service capabilities, improve operational efficiency and so on to play a comprehensive role in promoting. The report shows that the future of cloud computing will be from the Industrial model innovation, enterprise model innovation and Revenue model innovation three levels to radically change the bank's business model, promote the bank transformation.

The White paper also cautions that in advancing cloud mode, the white paper also suggests that banks should pay attention to the four major aspects of industry cooperation, industry and legal supervision, bank internal management mode, IT management and it technology, and give the solution idea. This provides a clear direction on how to correctly recognize the value of cloud computing and embark on a cloud-based transformation in the rapidly developing domestic banking sector. On the other hand, it is also pointed out that it is an important step for domestic banks to establish their own cloud model as soon as possible by cooperating actively with relevant regulatory departments and making efforts to participate in the formulation and implementation of cloud standards.

(Responsible editor: Liu Fen)