A recent IDC report said 14 million cloud computing jobs could be created in industries across the world, and BankTech reports that 1.4 million of those jobs could be in the banking industry.

"Fourteen percent of its total costs compared to a 7 percent cross-industry average," according to Joe Pagano, managing director of banking and capital markets for Microsoft's financial services group, according to BankTech. "We see the cloud as being the key tool in the modern era of IT for the banking industry to drive that 14 percent number down closer to cross-industry standard."

Much of the banking industry's IT spending will be revamping on-premises legacy systems, applications and more, Pagano tells the news source. As efficiency drives up, he said budget will be driven into the cloud to higher growth areas, which should help the job growth.

In the IDC report, done in concert with Microsoft, Susan Hauser, the corporate vice president of the Worldwide Enterprise and Partner Group, said cloud computing will have a huge impact on job creation and will spur innovation across industries. It appears banking will see a large amount of that innovation.