Financial services institutions are increasingly turning to hybrid cloud solutions as they modernize their organizations and look to meet customer demand for digital services. But what does this actually look like?

Taking an open source approach to cloud can also help to overcome some of the key pitfalls many FSIs fall into when it comes to cloud transformation, such as cloud-vendor lock-in, growing regulatory pressures and the change in culture and skills required by new ways of storing, using and sharing data.

An open source approach to hybrid cloud can offer distinct benefits, such as enhanced support, more freedom with cloud - and vendor-agnositicism, and ability to scale with greater consistency and efficiency, but how advanced are FSIs in their cloud journeys, and what are some of the main business challenges faced by organisations as they seek to harness the advantages of the cloud?

To delve further into these challenges, FStech was joined by Nikolai Stankau, Director for Business Development at Red Hat.