“In today’s digital age, robust service delivery has become instrumental to organizations to stand out from the competition, the financial services industry is one such industry that demands incessant customer services and resilient infrastructure for seamless operations.”
Simply put, DevOps has been playing a pivotal role in shaping the modern business world. Digital transformation has become the need of an hour and disruption has become a reality.
DevOps is changing the entire game by causing a paradigm shift in the financial landscape.
The financial sector is geared up to adopt leading technologies and modern software delivery practices like Agile, DevOps, and continuous delivery.
The COVID-19 pandemic has thrown light on the need to become Agile and resilient to ensure business continuity.
Corporate giants like Capital One, HSBC, JPMorgan Chase and modern FinTechs are embracing DevOps to become more responsive to dynamic customer demands while meeting security goals. Firms are adopting DevOps for their digital transformation journey.
To stay abreast with the transformation, companies in the financial services sector have been realizing the need to deliver services at improved speed and flexibility for their customers. Let’s explore DevOps practices to understand how it can transcend the financial landscape to the next level.
To Propel The Waves Of Automation
Automation isn’t a matter of choice in the financial services industry but has become a necessity to inject robustness and agility in the operational processes. DevOps isn’t just about automation, there is more to it.
‘Automate everything’ as the key principle of DevOps can lead to efficient and effective resource utilization, better product quality, and high productivity. Automation in DevOps fosters speed, accuracy, agility, consistency, and reliability in the finance domain.
DevOps ensures security practices, scalability, and regulatory compliances and can drive continuous delivery by improving the time for market release. Automation is pivotal in making release cycles shorter, better, and faster.
It can drastically reduce the workload on cross-functional teams and reduce the time otherwise spent on repetitive tasks. To summarize, Financial companies leverage automation to develop, test, and deploy codes keeping utmost focus on quality, compliances and security.
To Strengthen The Security Posture
High customer engagement and transactions call for a strong IT infrastructure laced with best security practices as security is paramount in the finance industry. Financial organizations need to improve the quality of application releases while prioritizing risk, audit, security, and compliance issues.
DevOps helps these organizations to embrace automation, minimize potential security threats. It empowers them to identify security issues so that they can be taken care of at early stages.
It can ensure end-to-end visibility across teams and bring security across the organization. DevOps approaches help in adopting technologies like blockchain hence the role of DevOps has become crucial and critical in addressing modern security concerns of finance companies.
DevOps pays off in financial services as DevOps practices and tooling can help improve overall security through security test automation, configuration and patch management, continuous monitoring and identity management
To Accelerate Technological And Cultural Transformation
DevOps is a mindset which fosters a culture of visibility and transparency where every stakeholder works in collaboration toward a collective goal.
It solidifies knowledge-sharing, and improves a sense of responsibility in every stakeholder. Organizations in the financial industry need smarter software development processes to meet domain and regulatory requirements.
The finance industry can harness the power of DevOps to unleash the change from cultural and technology standpoint. The financial industry has got the back of DevOps with which the industry can modernize its legacy data, system, applications, and back-end systems and processes.
Well-orchestrated DevOps focuses on people, processes, and technology. As everyone works in synchronization, processes can be streamlined, communications can be improved, and a great culture can be built.
Key Insights – Some Of The Major DevOps Benefits Are,
- Better collaboration between developers and operations teams.
- Streamlined feedback process and continuous performance monitoring.
- Automation and Agile methodologies across the entire organization.
- As team members are empowered, dependencies can be minimized.
- Formation of unified teams for the complete development lifecycle.
- Continuous integration of source code and automated deployments.
Finance domain is the backbone of every economy which is getting benefited from DevOps in a big way. DevOps has witnessed a broader adoption by the financial services industry to take it up a notch.
It has been the most sought-after solution that helps firms to improve collaboration and communication, and streamline continuous integration and continuous delivery.
To conclude it in a few words, reasons like scaling the IT processes across the organization, incorporating security in the delivery pipeline, breaking down functional silos and facilitating collaborative teams have propelled the adoption of DevOps in the finance domain. Thus, with DevOps, financial organizations can win big by getting a hold on scalability, security, and transparency!