Banking on the Clouds

The Temenos Microsoft alliance to bring banking on cloud computing is commendable and the fact that 12 Mexican Banks have agreed to Migrate and work is in progress is heartening news for those who believe that the future of computing is the cloud.
Microsoft has also signed with Misys to offer their banking solutions on the Microsoft cloud Azure.
Some of the key development over the last few months are given below which I have taken from the Microsoft website.

Temenos Announces the Availability of its T24 Core Banking System on the Microsoft Windows Azure Platform

Misys Announces Core Banking Solution to be Extended to the Cloud with the Windows Azure Platform
BNP Paribas Envisages the Future of the Branch
North Shore Credit Union boosts innovation and customer service with Temenos and Microsoft
Source : http://www.microsoft.com/enterprise/industry/financial-services/banking/default.aspx

The cloud provides a great opportunity of banking software solution providers migrate their current and future customers to the cloud, thus bringing in resilience and economy in technology operations in Banking.

NASDAQ had already moved some operations to the cloud, now it is the turn of the Banks and I am sure in following months Financial Services and Insurance companies will also make their moves into the cloud.

The Cloud is slowly and surely getting traction from the Risk Averse BFSI Sector!.

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