Financial Services Clients are Overcoming Cloud Adoption Challenges
By: Melody Bienfang and Jason Sawyer
IBM Cloud Service Management and Operations is a catalyst in the leap to the cloud
Adopting a cloud strategy is not just a change of technology, it is a change of tools, processes, and skills. For the financial services industry, the significant increase in regulations has increased the complexity of the transition to cloud. With concerns around security, omnichannel demands, scalability, and making sure modernizing skills are sufficient, it’s clear to see that careful planning and strategic durability are paramount. IBM Cloud Service Management and Operations (CSMO) understands the needs of the financial services industry and is already working with many financial clients as the catalyst that helps them take the leap to the cloud through effective automation, dashboards and monitoring, and management of multi-cloud environments.
IBM Cloud Service Management and Operations enables clients to take incremental steps toward the agility, performance, and collaboration they need to ensure cloud service reliability for an “always-on” user experience—a must in a competitive world where financial institutions are no longer just competing against banks, but against anyone offering financial services.
Common pain points
The following are a few of the most common pain points in the financial services industry:
Gaining a competitive edge over the array of financial services now available
Delivering an excellent user experience in an omnichannel environment for consumers
Managing, securing, and leveraging a data-driven business
Transforming aging technology into microservices (or simply into cloud-native tooling)
Ensuring an “always-on” consumer tools model
Adhering to the extensive regulations and governance of the financial services industry
Adapting culture and skills
Designing with consumer and agile delivery in mind
Deflecting hacker attacks
How is IBM Cloud already helping financial service clients?
Site Reliability Engineering (SRE) disciplines
IBM Cloud is helping clients acquire new skills and adopt SRE disciplines and practices. For one of the top 10 largest banks in the world, new SRE skills helped with the elimination of manual processes, driving automation and improving customer experience.
For another multinational investment bank and financial services company, IBM was able to map SRE to current security processes, facilitating its goal of the faster release of software.
IBM Cloud is working alongside a large European bank to ensure a robust cloud transformation plan is in place and that its cloud operations are ready to provide stability and scalability. IBM has been instrumental in the bank’s cloud strategy, including the introduction of ChatOps and the migration to IBM Cloud Private, including Cloud Foundry and Kubernetes.
A large North American insurance company engaged the expertise of IBM Cloud Service Management and Operations expertise to help take the current traditional operations and management processes forward to a more agile way of working and to cloud-ready capabilities. IBM carries out extensive infrastructure, applications, and topology reviews to ensure production level and maturity levels are achieved to deliver excellence and outstanding user experience.
No matter where applications run—in traditional IT data centers or on the cloud—they must be managed to ensure availability, security, and quality of service. Now is the time for you to transform to support the paradigm shift as developing, testing, and releasing new functions become more agile.
IBM Cloud Service Management and Operations provides a number of critical service offerings, including Site Reliability Engineering, ChatOps, readiness assessment and consultancy, RACI (responsible, accountable, consulted, and informed), and build to manage.
IBM’s easy-to-digest Cloud Service Management and Operations field guide is a perfect way to understand more about how the CSMO framework for succeeding in moving from ITSM on-premise to cloud operations can help you be efficient on cloud and outpace your competitors. You can read the field guide here on the IBM Cloud website.
Additional information can be found here: “Reinvent your cloud operations“