The HashiCorp State of Cloud Strategy Survey 2023 reveals that financial services firms are adopting a multi-cloud approach to improve business outcomes, with almost 9 out of 10 respondents seeing benefits from their multi-cloud strategy, including reliability, scalability, and security. Despite macroeconomic pressures, more than half of financial services organizations increased their cloud spending in the last 12 months, while only a quarter cut their spending. The survey also found that training and skills shortages are common complicating factors for multi-cloud adoption, but over two-thirds of respondents believe their multi-cloud strategy is helping them attract and retain talent. Centralized platform teams are becoming increasingly ubiquitous as an organizational approach to enable cloud adoption and operation. Overall, the survey highlights the prevalence of a multi-cloud operating model in the financial services industry and its delivery of meaningful business value.