How do customers experience their bank or insurer operating in the cloud?
‘They get answers to their questions much more quickly because automation makes real-time processes possible’, explains Verschuere by way of example. ‘Consider taking out a mortgage loan. Now you still have to make an appointment, go to the office, then consult with the head office and provide feedback to the customer… Thanks to the availability of data via the cloud, banks can work much more quickly. Especially young people appreciate that.’
‘Moreover, banks are increasingly offering non-banking services. Their ecosystem is much larger because you can easily connect these services with, for example the bus company to buy tickets, or with your telecom operator to enjoy extra services.’
‘There is also a benefit in terms of safety’, adds Vaes. ‘More and more cyber-attacks are highly targeted and send a lot of traffic to one specific app. If you are working with a global cloud provider, they can track such attacks by region and prevent them from spreading further. In a traditional context this is not possible on such a scale. Companies must educate their end users a bit and explain that cloud applications do not endanger their data: quite the contrary.’
‘When I see how great the use of cloud services such as Netflix, Facebook or Google is, I note that objection on the part of customers is not so great’, Verschuere responds. Moreover, banks are very careful when it comes to protecting customer data. This is reinforced by the strict data protection legislative framework in Europe. Financial institutions absolutely want to meet the strictest requirements in this domain.’