June 8, 2023

Bank of America saves $2.1 billion in infrastructure costs thanks in large part to its transition of workloads to its private cloud in 2013, Howard Boville, Bank of America’s chief technology officer told Business Insider.  The bank has transitioned 75% of its workloads to the private cloud thus far and hopes to have 80% there by the end of 2019. In addition to cost savings, moving to the private cloud has allowed the bank to better monitor customer interactions.  One of the biggest banks in the world is enjoying significant savings to its tech spend thanks in large part to its decision to build out its own private cloud.  Howard Boville, Bank of America’s chief technology officer, told Business Insider the bank will save $2.1 billion in infrastructure costs in 2019, a large part of which comes from moving a majority of its workloads from traditional on-premise servers to its private cloud. The bank began the process in 2013 with a goal of moving 80% of its infrastructure to its internal cloud, which was built on OpenShift, by the end of 2019. Bank of America has almost reached the objective, with 75% having already shifted. That project was part of…

Read more here: Bank of America is putting the finishing touches on a 7-year cloud journey its CTO says has saved the bank billions and improved customer interactions

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