Increasingly, yes big businesses are moving to the cloud with force and in anger!
Big Banks
The open banking regulations are greatly eroding the competitive advantage the "Big 4" banks enjoyed for a long time. Namely, the informational advantages enabling more accurate pricing of risk. Given these new regulations I would argue the days of the banking incumbents are numbered. Increasingly they will look lumbering. By comparison, the fintech players globally are running with these new regulations and with their nimbleness are growing lending marketshare faster (greater percentage gains means money is working harder.)
The fintech players are exclusively online and run entirely in the cloud.
If one of the big banks want to buy a fintech player outright they will have to pay a premium. Either way the fintechs will win large.
1 warning, 2 big downgrades within 5 weeks, page-8
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