Which platform do you use to execute your code?

I'm interested in hearing how people here execute their code. Are they cloud hosted or on-prem?

I work in a bank, we are aiming to get off our legacy toolset and into Python. The challenge is getting an environment where we can run and develop our models. Our data is too big to handle on a laptop, so we are looking for some sort of platform to execute code on.

We have looked into standing up our own servers where we can run code, but IT is adamant that we be subject to SDLC standards, which makes sense for traditional application development, but not super applicable to data analysis and model development workflows. They don't seem to understand that our "application" is a data cruncher that we can use to generate insights.

I've looked at tools like Posit Workbench or Databricks that I think would fit our needs but I'm interested in hearing how other companies enable their data scientists to execute their code.