How Banks Transform Digital Businesses with DevOps
DevOps has become a prerequisite to thrive in the application economy.
Software delivery capability has become important for organizations to differentiate themselves from their peers. The app economy is motivating leaders to make critical changes across IT and the business, with the increasing adoption of DevOps as a significant springboard. As a result, DevOps has become a prerequisite to thrive in the application economy.
The banking and financial services sector is just one of many industries facing increasing demands from the customers, whether through new channels or innovative services. However, just rolling out products and services isn’t enough to ensure success in this industry.
Today, every business is a software business and the potential for disruption is strong across the banking industry value chain. Moreover the competition between traditional banking models and emerging financial technology entrants—fintechs, is getting more aggressive.
DevOps can play an instrumental role in breaking down the silos between the product owner, development team and operations team.
— Ashok Vasan, vice president, Application Delivery, Asia Pacific & Japan, CA Technologies
For banks, one of the challenges for IT is enabling the development team to work well with the production team so that applications are designed, tested and rolled-out consistently and without disrupting business. This is where DevOps can help foster collaboration between the teams that create and test applications with those that maintain them in production environments. DevOps can help drive business agility and help gain competitive advantage through simplified and faster development and test, and through deeper network visibility.
CA Technologies recently conducted a study, titled “Assembling the DevOps Jigsaw,” in which a majority of 72 percent of financial services players have implemented DevOps across their IT infrastructure.
IT operations in banks are generally heavily siloed in terms of their organizational structure. DevOps can play an instrumental role in breaking down the silos between the product owner, development team and operations team.
Here’s a video to show how banks can leverage DevOps.
Today, a majority of 69 percent of organizations in the Asia Pacific region (APJ) have already implemented DevOps. Out of these DevOps practitioners, 15 percent have already reached advanced levels of adoption.
Moreover, compared to those without DevOps, advanced DevOps adopters in APJ were:
- 3 times more likely to have seen progress on market share
- 2.3 times more likely to have seen improvements in customer profitability
- 2.2 times more likely to have seen improvements in customer retention
- 2.2 times more likely to have seen new income streams
- 2 times more likely to have seen improvements in customer acquisition
The top three demand drivers in the region for implementing DevOps are to keep pace with escalating customer demands; to create new and innovative customer experiences; and to have rapid response to business requests. Today, not just the banking and financial services sector but organizations across industries are increasingly realizing that in order to remain competitive, being digital transformed is a must, especially in the application economy. Key to this is DevOps—which enables quicker app delivery, superior quality and seamless user experience, cost minimization and improved team efficiency.
DevOps as a business differentiator is emerging strong rapidly, but to fully harness its potential, organizations need to skill-up IT and ensure that the necessary enablers are in place to support collaboration and continuous innovation.