Cloud and DevOps in Banking
Digital entrants eroding market shares across BANKING SEGMENTS, ECOSYSTEM COLLABORATIONS REWRITING PLAYBOOKS, AND HIGHER ESG COMMITMENTS are central themes for leading FIs. Fifteen years of original McKinsey surveys report that less than one in three companies pursuing transformations in the past five years have been successful. For the few that achieve their targets, there is a disparity between performance and outcomes. While growth spirals are unique for each of the BFSI players, there is consensus around what constitutes ‘bold banking innovation’: reinvent core businesses through digital and analytics, acquire or create new revenue streams and rehaul operating models that capture speed to the market. AGAINST THIS BACKDROP, ENTERPRISE ADOPTING MULTI-CLOUD STRATEGIES – A MIX OF CLOUD ENVIRONMENTS AND PROVIDERS – CONTINUES TO PROLIFERATE. As enterprises move their application and data workloads, hybrid and distributed cloud environments quickly become the norm. An HBR analytic survey talks about 85% percent of respondents using at least two clouds and a quarter using five or more. The Problem Statement Embracing greater agility via such expanding ecosystems necessitates accepting more complex architectures. This has evolved in the form of microservices, event-driven and serverless. Furthermore, other jigsaw pieces – application and data architectures, infrastructure, and development methodologies – have significantly modernized. However, ‘traditional operations’ remain silos of applications, data, and infrastructure. Consequently, enterprises are challenged to maintain and operate cloud workloads cost-efficiently without sacrificing reliability and availability. What’s the way for banks to accelerate to their next? Engineering-led operations that refine Cloud-work management strategies are the next step to reduce the Cloud’s complexity and accelerate innovation that keeps pace with customer expectations. Banks must invest in consistent means to determine the place, timing, and mechanics to run...
