From silos to synergy: How FSIs can optimize their cloud strategies

This explosive growth in digital signals, combined with strict data retention requirements and regional regulations, creates significant operational hurdles for financial institutions. Adding to these challenges is a global shortage of cybersecurity professionals. According to Bylen: "The World Economic Forum has stated we are short … 4 million cybersecurity professionals globally."

Capgemini's research reveals that less than 40% of executives are highly satisfied with their cloud outcomes, while even fewer (33%) report being satisfied with how the cloud has reduced operational costs. The path forward requires breaking down operational silos while maintaining strict data control — a challenge highlighted by the fact that 71% of (insurance) institutions struggle with integrating information across legacy systems and 70% encounter difficulties protecting customer data and maintaining privacy. For FSIs grappling with cloud transformation, the key, says Bylen, is that banks need to ingest data from multiple sources, apply a layer of intelligence to it, act on those insights, and then store that data in the most cost-effective way possible.

Fragmented tools won’t scale. Analysts are stretched. And storing data doesn’t mean you can use it.

Watch the webinar to learn how Elastic helps FSIs reduce cloud costs, unify security and observability, and equip analysts with AI-powered precision.

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