If More Convincing Is Needed, Here Are 4 Essential Reasons to Make More Use of the Cloud

Over the years the capital markets have embraced various technological innovations to improve productivity, performance and decision making. These technologies include electronic trading platforms, algorithmic trading, big data analytics, artificial intelligence and machine learning, blockchain and distributed ledger technology, and, of course, cloud computing.

Cloud’s scale, resiliency and resourcefulness are core reasons it is forming a critical part of many institutions’ business and technology roadmaps. However, there are still financial services firms that are not taking full advantage of all the cloud has to offer and have been slow to roll out the cloud across many of their main functions.

The benefits of the cloud are substantial and cloud technology has the proven ability to deliver business value, technological prowess and innovation at scale faster and potentially at reduced costs compared to on premise systems.

In this paper, Numerix’s Head of Market Risk and Counterparty Credit Risk Analytics, Mayank Nanda, outlines his business case for supporting greater adoption of the cloud. He emphasizes these four key drivers:

• The need for better data capabilities
• Meeting the new challenges FRTB brings to the table
• Managing the increasing usage of XVAs
• Meeting the increasing demand for frequent stress tests