Cloud computing is transforming the banking industry by enabling agility, cost efficiency, and innovation. Over 75% of bank CEOs prioritize technological change, while 50% of customers prefer digital banking for convenience. The global cloud market is projected to grow from $272B in 2018 to $623B by 2023, with India’s market reaching $7.1B by 2022. Banks are leveraging cloud-based PaaS and SaaS solutions to replace legacy systems, improve customer insights, expedite product launches, and monetize data. Cloud adoption enhances customer satisfaction, drives growth, and ensures competitive advantage by enabling quicker development and delivery of tailored banking solutions.

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