Independent Banker - June 2022 - 24

PORTFOLIO
◎FOCUS TECHNOLOGY
8 ways cloud banking
can boost efficiency
Fewer IT costs, better data storage and greater resilience-moving to the
cloud is no small feat, but the potential benefits to a community bank's
bottom line can be hard to ignore. We spoke to experts to get an overview
of the savings that could be in store for banks. By Katie Kuehner-Hebert
oving a community bank's
operations to the cloud can be
labor intensive, but the benefits can
be substantial. Below, experts share
some of the potential cost benefits of
adopting cloud banking services over
the long run.
1. Reduced internal IT costs
Software-as-a-service (SaaS)
applications, whether a service
bureau/cloud-based core or other
cloud-based solutions, eliminate
server costs, upgrades, supporting
software and other application
maintenance costs, says Ben Reeser,
senior solutions architect at CSI
Managed Services in Paducah, Ky.
" It also can reduce the footprint
of onsite IT resources, which also
reduces HVAC and power costs
onsite, " Reeser says. " It also eases
moves to new locations, new branches
or more streamlined locations that
may not have the space or supporting
power or infrastructure for a large
IT footprint. "
2. Reduced labor costs
Community banks can off-load system
maintenance and upgrades to the
cloud services provider, so they don't
have to allocate their own limited IT
resources, says Jonathan Baltzell,
senior director for private cloud
services at Jack Henry & Associates
Inc. in Monett, Mo.
" Also, moving a community bank's
operations to the cloud might not be
as labor intensive as many bankers
might think, " Baltzell says. " We have
moved about 20 customers to the
cloud in the past decade, and the
process has been pretty streamlined. "
3. Accelerated time to market
" Moving to the cloud allows for
more efficient use of capital, instead
of investing a bunch of capital into
on-premises hardware that then
M
24 Q ICBA Independent Banker Q June 2022
Illustration by Akinbostanci/iStock

Independent Banker - June 2022

Table of Contents for the Digital Edition of Independent Banker - June 2022

Table of Contents
Independent Banker - June 2022 - Intro
Independent Banker - June 2022 - Cover1
Independent Banker - June 2022 - Cover2
Independent Banker - June 2022 - Table of Contents
Independent Banker - June 2022 - 2
Independent Banker - June 2022 - 3
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Independent Banker - June 2022 - Cover3
Independent Banker - June 2022 - Cover4
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