The financial services industry is undergoing fundamental change driven by heightened regulatory requirements, increasingly demanding customer expectations, competition from nontraditional financial services sectors, and rapidly evolving technology capabilities.
Public cloud adoption is seen as a key enabler in financial services. In a Capgemini Research Institute Report, 91% of financial services leaders identified adopting a cloud-first strategy as a key to institutional growth.
As part of the move to the cloud, financial services companies that have long invested in traditional, on-premises, enterprise-class databases are now also looking to modernize their technology stack and embrace open source databases, including Postgres.