Cloud set to replace in-house tech for banks

‘No other way’ to meet demands of FRTB, XVA and other changes, claim proponents

Technology is a fickle thing. Older, less-efficient technologies that once revolutionised an industry are constantly being replaced by newer, better-performing solutions. For risk managers weighed down by the computational burden of new market risk rules introduced by the Fundamental Review of the Trading Book, these technological advances cannot come soon enough.

That is why many large dealers are exploring cloud computing as a way of overcoming the perceived limitations of in-house systems.