Momentum is building as financial institutions move some or all of their payment applications to the cloud, requiring a migration from the legacy on-premises applications and HSMs to a cloud-based infrastructure that isn't generally under their direct control. Often it means a subscription service rather than perpetual ownership of physical equipment and software. Corporate initiatives for efficiency and a scaled-down physical presence are the drivers for this shift. Conversely, with cloud-native organizations, the adoption of cloud-first without any on-premises presence is their fundamental business model. Whatever the reason, end users of a cloud-based payment infrastructure expect reduced IT complexity, streamlined security compliance, and flexibility to scale their solution seamlessly as their business grows.
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