Banks should not be afraid to go further and faster in their adoption of cloud computing, according to Mohamed Gamil, chief operating officer at Islamic Bank of
Britain. IBB currently has a deal with US cloud computing company Salesforce.com. Gamil said that the adoption of the cloud means that he is free to experiment with new ideas without spending millions of pounds up front. Islamic Bank of Britain originally turned to cloud computing for customer relationship management. It then decided to move sales management, customer on-boarding for current accounts and savings into the cloud. Finally in July 2013, Islamic mortgage alternatives were added to the cloud. The cloud idea is especially interesting
for small banks which have to compete with the big players that spend hundreds of millions of pounds on IT every year.