Banks outpacing insurers with cloud adoption – BoE

Concept image of a cloud question mark

Banks use cloud outsourcing more widely than insurers, according to a new blog post from the Bank of England.

As part of a survey, the central bank sought feedback from the 30 largest banks and 27 largest insurers in the UK. The survey revealed cloud outsourcing was being used primarily to run software and support IT infrastructure. It was also being used to “access additional processing capacity”.

“Using the cloud allows businesses to work in a more agile way, with cloud services offering

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