Cloud computing is one of the most significant technological advancements of the present-day financial technology solutions which provide answers to different spheres, including banking. This technology has the advantage of bringing about change and growth in the kind of services offered coupled with flexibility and scalability to financial institutions all at a fairly cheap cost. Thus, this paper identifies and discusses the factors that may impact the uptake and utilization of cloud computing innovations within the banking industry for the enhancement of these innovations. Using self-completed questionnaires administered to 2358 banking professionals including managers, customers, and senior executives, this study assesses their perception of cloud adoption in the financial sector. Using the analysis in the article, we can uncover opportunities, as well as threats to the adoption of cloud technologies by banks. To achieve a more coherent prescription for Cloud adoption, this paper puts forward a five-facet framework of the COTED matrix. It is demonstrated that all the discussed factors greatly impact the adoption of cloud computing in the Banking sector. These findings will help CSPs gain more insights about which factors are most important for enhancing cloud integration with an emphasis on promoting and delivering services