Cloud for financial services

Unlock the full potential of your cloud investments

Finance leaders recognize the opportunities cloud brings to their organization and have started their migration journeys. In fact, 91% consider cloud to be a key enabler for catalyzing growth. And yet, few have truly harnessed its potential.

Cloud transformation can enhance operational efficiency, agility, customer experience, and reduce costs. It allows banks and insurance companies to leverage AI and machine learning to optimize their operations and drive innovation.

However, challenges like security concerns, legacy systems, data privacy, and workforce upskilling remain. Partnering with a trusted cloud service provider like Capgemini can help banks and insurance companies navigate these issues and unlock cloud’s full potential.

Our multi-cloud management, data estate modernization, and power platform solutions, go beyond basic migration and help you fully leverage cloud investments for optimal financial outcomes.

Begin your cloud journey.

World Cloud Report 2025 Key Highlights

Financial services organizations face a complex operational landscape

Organizations face diverse operational challenges that impact their business – including data and security, regulations, cloud transition issues, technology challenges, and FinOps.

Establish a cloud transformation framework around a hierarchy of success criteria

Based on our research and analysis, we developed a framework for banks and insurers to maximize the value of their cloud investments. A definitive cloud transformation vision based on a hierarchy of priorities is essential as financial services firms seek innovations that drive operational efficiency and revenue growth.

Cloud-powered CX strategies are critical for financial services firms, but current adoption is limited

Financial services executives believe cloud-powered CX strategies like CRM tools, omnichannel engagement, and customer data platforms are critical. However, while many financial services firms have piloted or partially adopted these strategies, very few have adopted and scaled them.

Financial services innovators are data-driven, cloud-focused, and customer-centric across the value chain

Future-focused banks and insurers drive substantial revenue growth because they are data-driven, cloud-focused, and customer-centric across the value chain. We assessed banking and insurance value chain components and identified how firms strategically deployed cloud and Gen AI to drive revenue growth.

Cloud banking services

• Payments Legacy Modernization: AI-enabled end-to-end services to drive innovation in payments, helping you compete with FinTechs and next-gen digital payments.
• Wealth Management Transformation: Building next generation banking with reduced infrastructure costs. Open Banking Platform
• Open Banking: End-to-end implementation of your open banking platform with a focus on security and regulatory compliance
• T+1 Accelerated Settlements: Reducing the securities settlement cycle to one business day post trade-date, enhancing efficiency, and reducing operational risk

Cloud insurance services

• Life Closed Block Mainframe Modernization: Using the power of AI to accelerate the migration of legacy policy systems
• Embedded Insurance: Helping insurers integrate their products into the customer purchase journey in B2B2C channels using an ecosystem-led model
• Touchless Claims: Automating and innovating the claims value chain to enhance efficiency, improve accuracy, reduce LAE by 20-30%, and increase claim satisfaction
• Guidewire Cloud Upgrade Factory: ​Guidewire Cloud empowers insurers to be flexible and focus on building capabilities