Most banks are making significant investments in the cloud and planning to migrate core computing workloads in the coming years. Our research on “Mainframe Migration to the Cloud in Banking”—which we outline in the current issue of the Banking Cloud Altimeter—surveyed 150 banking executives across 16 countries and found that 82% of large banks that are planning to or are in the process of moving at least half of their mainframe workloads to the cloud. Of those aiming to move 75% or more of their workloads to the cloud, most plan to achieve that goal within the next five years.iv>
More Accenture analysis has found that banking is ahead of most industries in its cloud adoption, which includes sourcing and training the skills needed to maximize the cloud’s potential. In terms of cloud adoption, banking leads industries like insurance, automotive and travel while trailing only a few high-tech industries like software.
But hiring, on its own, is not a viable solution to the talent problem. Demand for both cloud technologists and cloud fluency across the entire organization is rising in banking and beyond. There is not enough external cloud talent to meet the demand.