The global banking & payments industry experienced a 54% drop in company filings mentions of cloud in Q3 2022 compared with the previous quarter, with the highest share accounted for by Coinbase Global with 250% year-on-year increase, according to GlobalData’s analysis of over 317 banking & payments company filings.
Notably, cloud was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of digitalization and internet of things, according to GlobalData’s whitepaper on Cloud in Banking & Payments – Filings Trends in Q3 2022.
Of the 50 leading companies in the banking & payments industry, Coinbase Global had the greatest increase in references for cloud in Q3 2022, compared with the previous quarter. GlobalData identified 21 cloud -related sentences in the company's filings - 7% of all sentences - and an increase of 75% in Q3 2022 compared with Q2 2022. Nasdaq’s mentions of cloud rose by 62.5% to 13 and Fidelity National Information Services’s by 40% to 12.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q3 2022 was 99.