The financial institution is depending extra on cloud computing, which is storing and processing records via a shared, centralized system presented by using huge tech firms.
using “the cloud” has a tendency to be cheaper and extra efficient for companies than buying and keeping their very own servers. but it takes time to transition, and for expenses related to vintage generation to vanish away.
as it stands, Morgan Stanley has few different alternatives than to recognition on charges, analysts say.
"As marketplace pastime improves, a number of the price-slicing questions at Morgan will probable depart," said Brian Kleinhanzl, a banking analyst with KBW. "but as of now, it’s the most effective lever that banks can really pull on this sort of environment."