Banking sector has seen a disruption in last decade with intensified competition with new entrants that makes brand creation and offering a unique value proposition to customers a huge challenge. Compliance and regulatory norms regarding security and data residency highlighted by the Reserve Bank of India (RBI), have mandated banks to store their data in data centers that are physically located in India.
Peter Gartenberg, who leads Microsoft India’s Enterprise business segment, believes that migration to cloud services hosted locally will enable financial institutions to cut costs and manage operational risk while meeting customer demands for innovative products and services. SOURCE: