Cloud and core banking. Traditionally, core banking has been an on-prem solution historically, over many, many decades. And recently, we’ve seen some moves of other applications in banking to cloud and core starting to follow. From a cloud perspective, there’s still a lot of questions out in the industry around cloud banking. Why would an organization move their core banking, the heart of the bank, to the cloud?
Dylan Steenhuisen: I think there’s a few things over there. And it’s very similar to Peter. We want to try to get definitions out of the way. So there’s a few things around cloud. There’s one being cloud native. And I think there’s many organizations that kind of masquerade so that they are cloud native. But when you kind of think about the definition of that and how we kind of define it, being cloud native is about designing, building, deploying, and managing those applications and leveraging cloud-based services to deploy those apps and things such as Kafka, et cetera, are all part of that suite of cloud native solutions, as opposed to cloud enabled, which is taking old platforms or old code and containerizing that and putting it in the cloud. In terms of the benefits for that, and why banks will go down this route as well, I think the one that kind of comes to fore is really around scalability. And it was funny, I was having a meeting with a stakeholder not too long ago. And we were talking about horizontal and vertical scaling. And the best way to kind of explain this to people is really through an analogy. So, imagine you go to a restaurant. And as a family, as a couple, you’ve got your nanny looking after your kids. So, you go there fairly early for dinner. The waiter comes, he serves you. In 15 minutes, you get your food. Now, you enjoy your food, a couple of glasses of wine. At the end of that, you look up, and the restaurant’s busy. And what to expect in a well-run restaurant is that everyone has that same level of service, so everyone’s getting their food in 15 minutes. So, if you think about this restaurant, it’s kind of designed to operate horizontally. So, you’ve got waiters that are scaling. You’ve got increased number. But then you’ve also are scaling vertically in terms of the chef staff. You’ve got a few more people supporting the chef as well. So that kind of applies to banking as well. So, it’s very difficult to predict workloads as well. So, you want to ensure that, as a bank, you can manage any workload possible. So, you want to be able to scale at peak demands, whether it be end of month, end of year, et cetera. And you don’t want to have a capacity issue. And that’s what customers expect. So, if you think about the other benefits in relation to that as well, back in the day, when you had to buy infrastructure, you had to buy for those peak loads. And at the moment, you only have to rent that infrastructure for that peak load. So, I might just stop there and see if Fiona has anything else to add.
Fiona Douskou: So banks must develop capabilities in the future of connectedness and this connected world that we live in. I believe, and from my experience, that cloud native solutions is essentially, if you were to purchase something off the shelf. And that will provide a company and the bank an ability to be more elastic, especially with its CapEx, and invest in product development as well, and have access to innovation and develop new apps in real time. So, I think in general, cloud native solutions allows the bank to be more agile, meet the needs of its customers in real time, and harnessing rich data sources as well to make those decisions.
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