Executive Summary - Better on the Cloud: Financial Services in Asia Pacific 2021

  • The Asia Cloud Computing Association (ACCA) started reporting on the state of the marketplace for Financial Institution (FI) adoption of cloud computing in 2015. Since then, adoption of cloud by FIs has accelerated, particularly amid the COVID-19 crisis. This 2021 report updates our earlier analysis and recommendations with these developments in mind, noting the benefits that have been accrued by jurisdictions that facilitated greater cloud adoption. We hope to encourage all regulators to pursue policies that enable FIs to adopt cloud services. This would facilitate greater consistency in cloud related policies across the region, allowing for the benefits seen thus far from cloud adoption to expand exponentially. 

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