Cloud Technologies in Banking

Purpose: Studying the features and prospects of using cloud technologies in world banking in recent years is of great relevance, as among banks, cloud technologies are becoming more popular, and in the field of financial services, the use of cloud-based solutions continues to expand. Design/Methodology/Approach: The transition to a digital economy is a global trend. The world has already gained some experience in using cloud technology by banks, however, the question of which cloud service models are preferred by banks, what are the features of outsourcing cloud service providers and the service models they offer, continues to be studied. Findings: To date, in international practice, there is successful experience in transferring business functions critical for the bank to the cloud infrastructure, such as accounting and operational activities, risk management and maintaining information security procedures. Originality/Value: Modern banks are increasingly becoming IT institutions. A review of current practice shows that the use of cloud technologies by banks not only saves costs, but also acts as a growth driver for the bank, allows banks to introduce innovative products and develop in the institutional aspect. In Russia, the development of cloud technologies is a factor contributing to the development of Russian regions, as it creates the infrastructure for the formation of regional financial centers, which allows to solve the problem of disproportional development of Russian regions.