Microsoft targets Indian banks for cloud business

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Technology giant Microsoft finds Indian market suitable for growth of cloud computing. Special focus is on financial services where companies are adopting technology and offering digital services.

“The company is in conversation with most of the Indian banks to offer cloud services and the response of new payment banks is exciting,” said Peter Gartenberg, GM (Enterprise Partner Group) Microsoft India.

“Banks are looking forward to providing omni-channel customer experience for which they need to have multiple touch point for the customers most of which are digital channels. We are trying to help almost every major Indian banks to create a seamless experience across channels and cross-leverage different channels,” said Gartenberg.

Now-a-days, most of the banking services, like internet banking and phone banking, are cloud based and a lot of data produced by the banks are stored on the cloud because managing such a big database needs lot of investment for data storage. Hosting data on cloud platforms such as Microsoft Azure will reduce these costs, analysts say.

Satya Nadella, Chairman, Microsoft has earlier said that India has a $2 trillion opportunity for cloud computing services. In last September, three local data centers were launched in the country at Mumbai, Pune and Chennai by the company to offer hyper-scale cloud services to Indian customers.

Cloud services market in India is at its infancy but growing rapidly. The market is estimated to reach $1.9 billion by 2018 from around $730 million in 2015, a research says.

 

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