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Many banks, including very large ones, already have some amount of stuff running on public (& private) cloud infrastructure. Many other banks are preparing migrations. I, too, was surprised by this, considering only a few years ago they were very reluctant to even buy software from anyone who wasn't on a very short whitelist.

In the end, I guess it's all about the money ... and that includes the money it takes to find and train mainframe devs.

Source: spent a significant part of my career in fintech.

Me too. We sold a lot of dedicated fiber to banks in the early 2000s because they feared the packet switched nature of ATM. They thought packets would randomly end up at competitors.

I don't know if they ever realized even dedicated fiber links were software switched by that time so it was easy to misclick and send an entire fiber stream to their competitor too :)

Some examples:

https://aws.amazon.com/solutions/case-studies/monzo/

https://www.avaloq.com/solutions/products/avaloq-core