Cloud computing will allow financial services to operate more efficiently and at a lower cost, while also providing the ability to offer services that were previously economically unviable, Gartner finds.

Cloud services for core banking systems will be a top priority for Financial CIOs in the next four years, a recent survey showed.

The Gartner Executive Programs annual CIO survey was conducted by analyst firm Gartner and surveyed 2,014 CIOs in 50 countries.