A number of companies from the financial services industry are looking at Cloud Foundry or already have production deployment of Cloud Foundry. Why is the deployment and uptake of a platform, particularly strong in Financial Tech ? The reason is that this is an industry that is in a fervor of disruption and disaggregation. The incumbents have taken notice and are coming to the battle with guns drawn. Take a look at this picture.
As we look at the future of enterprises with CF, as senior consultants and technical leaders it behooves us to paint a picture of the future. For a look at the ideal digital future of this kind of platform driven transformation you need to look no further than the European bank ING who is undergoing/underwent a complete digital transformation. ING CEO Koos Timmermans spoke at the Goldman Sachs European Financials Conference in Rome on June 16/2015. Take a look at this slide deckhttp://www.slideshare.net/ING/
Investment of EUR 200 mln to further simplify, standardize and automate IT: • Decommissioning 40% of application landscape • Moving 80% of applications to zero-touch private cloud.
I also really enjoyed the following four part series from ThoughtWorks where the authors share their experiences and insights on ushering tech. fueled innovation in incumbent financial services organizations.
insights/blog/great-financial- services-companies-deliver- products-not-projects
insights/blog/winning- companies-master-strategic- technology
Much of what these articles state we already know; however the information is provided in the context of the financial tech industry and peppered with customer names/ case studies. These articles propose looking at all IT through a bi-modal view - Strategic and Utility IT. Thereafter they propose running strategic IT via a LEAN methodology in an innovation lab
- Shift from a project mentality to a product paradigm
- Break down large-scale, high-risk product development efforts into smaller, low-risk experiments.
- Provide these teams with the budget discretion to quickly test multiple ideas in parallel.Teams have toc learly define the problem and identify appropriate metrics to measure success.
- Collaborate early and often with stakeholders from technology, business, marketing, advertising, product, etc.
To achieve this transformation Banks have to affect both technical and cultural change
- Pivotal Way - Agile development with pair programming, TDD, Open Cloud Platform
- From Silos to building shared toolsets, vocabularies, and communication structures in service of a culture focused on a single goal: delivering business value
- Focus on open code and tooling across AppOps and InfraOps
- Punctuated Equilibrium to Continous Delivery
- Centralized Governance to Decentralized Autonomy
- Business Capability Teams - cross-functional teams that develop products rather than projects & Site Reliability Team
- Cloud Native Microservices Architectures - Systems designed with the fallacies of distributed computing in mind, Mobility, API-based collaboration, Patterns that optimize for speed, safety and scale, Self-service agile Infrastructure
- Strategic vs Utility IT
- Strategy For Legacy apps
- App Decomposition Best Practices
- Decompose Monoliths
- Decompose Data