| |MARCH 20219result, we can expect more countries to follow the likes of Poland, setting up national clouds, where banks can enjoy the benefit of cloud computing, shifting from capital expenditure (CAPEX) to operational expenditure (OPEX), even as the data remains in the country. Big cloud providers will continue to canvas and work with regulators to find common ground on the best way to run their infrastructure long term. Regulators in the past have stood in the way of innovation, in part due to a lack of understanding of the competitive landscape. Banks would end up spending more on maintaining the status quo to placate regulators. While it will be a gradual shift over the next five years, I would hope banks can reduce overheads, which restricts their ability to innovate, by working with cloud providers and regulators to automate and simplify activity through increased transparency.Long live the marketplace platform: One of the greatest drivers of cloud within the BFSI sector will be the need for banks to diversify their revenue models from fee-based transactions (where it is a race to zero) to new client-based services. Banks will also realize how much easier it is to drive partnerships and gain meaningful data insight in the cloud. Another critical trend to watch for will be the continuing demand for use of hybrid and multi-cloud environments, where banks avoid being locked into a single vendor by using a mixture of private and public cloud offerings. Following in the footsteps of Spanish multinational BBVA, we will see a lot more banks embracing a hybrid cloud approach to build a platform of services, which customers and partners can easily access as they diversify their business models.As the industry moves further into its cloud journey, we will see more bank leaders and CIOs recognize the need to get machine-human collaboration right. We will see more investment in employee reskilling and upskilling, as banks begin to unlock the value that lies at the intersection of employees and technology. There will be a more top to bottom approach to "applied intelligence" ­ combining intelligent cloud technologies and solutions with human ingenuity ­ across all areas of banking business, reshaping core banking processes and transforming customer experiences. AS THE INDUSTRY MOVES FURTHER INTO ITS CLOUD JOURNEY, WE WILL SEE MORE BANK LEADERS AND CIOS RECOGNIZE THE NEED TO GET MACHINE-HUMAN COLLABORATION
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