Navigating Cloud Migration Challenges in European Banking: A Cross-Atlantic Conundrum

Luboslava Uram, head of Digital Solutions at UniCredit, delves into the complexities facing European banks as they navigate cloud migration. While U.S. cloud providers offer scalability and efficiency, EBA's stringent compliance standards present significant obstacles. Striking a balance between innovation and stability is crucial, and collaborative efforts are essential for successful integration. Clearing the regulatory maze involves understanding the dual mandate, risks and rewards of cloud migration, transatlantic divides, compliance standards, and building collaboration frameworks. By fostering cooperation and harmonizing standards, European banks can accelerate their cloud adoption journey while ensuring compliance.