Cloud used for business continuity and advancing computation
Most institutions rely on third parties for services
Central banks leverage various cloud technologies for operations, chief among them is business continuity and new computing options, according to the Fintech Benchmarks 2023.
Most respondents, 69% of 36 institutions, cited business continuity and new computing options as the two biggest benefits of cloud services.
The next most common ways in which central banks use the cloud were automation (58%), increased flexibility of workplace practices (55.5%) and security (53%). Central banks also use
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