BANKING ON THE CLOUD

Like companies in other industries, banks are racing to take advantage of the opportunities and manage the risks that the digital economy creates. To do so, they will need computing platforms that provide greater agility at lower cost. As global head of Goldman Sachs’s technology division, Don Duet has led the development and execution of the firm’s private-cloud strategy, as well as its thinking about opportunities in the public cloud. “None of this marks a sudden or abrupt shift in strategy for the firm. It’s always been about making continual progress,” he says. In this edited interview conducted by McKinsey’s James Kaplan at Goldman Sachs’s headquarters in New York, Duet discusses the firm’s use of a private-cloud infrastructure—the challenges and risks it faced in conceiving of and launching the platform almost a decade ago and the benefits the firm is realizing through this technology.  Authors:  James Kaplan and Ishaan Seth.  Source:  McKinsey & Company.  Learn more…