APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • DevOps
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    Editor's Pick (1 - 4 of 8)
    left
    Service Management in the Age of Digitization

    Douglas Duncan, CIO, Columbia Insurance Group

    Devops- 'Aligning the Future of Software Deployment'

    Herry Wiputra, CTO

    Compliance @ The Speed of Thought

    Patrick S. Kelso, Head of Devops Consulting - Anz Region, UST Global

    On the Evolution of Agile to DevOps

    Carmen DeArdo, DevOps Speaker, Consultant, Author and DevOps Leader, Nationwide

    Building the New Paradigm of Next-Gen DevOps Management

    Marc Priolo, VP, City National Bank

    A Crash Course in Low-Code Software: What it is, What it Does, Why it Matters

    Karen Astley, Vice President Asia-Pacific, Appian

    Meeting the Intelligent Data Management needs of 2019

    Shaun McLagan, Senior Vice President, Asia Pacific and Japan, Veeam Software

    Bridging the T&E Compliance Gap in a New Era of Business Travelers

    Madanjit Singh, Managing Director, South East Asia, SAP Concur

    right

    Busting 4 DevOps Myths in Financial Services

    Andrew Phillips, Head Product Management, XebiaLabs

    Tweet
    content-image

    Andrew Phillips, Head Product Management, XebiaLabs

    Many people in the financial services industry wrongly believe that DevOps and financial services inhabit such different worlds that they can never blend together successfully. There is a widespread perception that DevOps is too high-tech, too fast-moving and too disruptive to be applicable to conservative, highly regulated institutions that resist change, operate a very diverse set of heterogeneous computer systems, and deal with a wealth of rules and regulations.

    The reality, however, is quite different.

    Sure, DevOps is fast-moving and potentially disruptive. However, DevOps is a great fit for any industry looking for ways to break down the technical and cultural walls that divide developers, testers, business analysts, and operations teams. In common with other industries, financial services is under daily pressure to improve software development and operations so that it can deliver software faster — without breaking the bank, or anything else in the process.

    The need for speed in software development is increasingly being shaped by customers, whose experiences of web and mobile applications have given them insatiable appetites for automatic service, frequently at the click of a button. If Bank A cannot satisfy their service needs, customers will simply abandon ship and sail off elsewhere.

    With competitors able to release new features within days or even hours, finserv companies can no longer afford unpredictable, lengthy, and inefficient release processes that barely support one update every couple of months. Antony Jenkins, the former CEO of Barclays, recently said in a speech that big banks risk becoming merely capital-providing utilities that operate in a highly regulated, less profitable environment, a situation unlikely to be tolerated by shareholders.

    Jenkins said, “We will see massive pressure on incumbent banks, which will struggle to implement new technologies at the same pace as their new rivals. Ultimately, those forces will compel large banks to significantly automate their business.”

    At its simplest, DevOps brings together disparate teams that traditionally might not communicate, or even want to communicate with each other. Those teams comprise developers, QA and operations people. The core idea of DevOps is to bring those teams together to improve collaboration and share understanding of the entire application lifecycle — with the goal of building more scalable, higher quality software that delivers better service to customers.

    Myth 1: The strict separation of Dev and Ops — imposed by regulators — inhibits the adoption of DevOps.

    There is some truth to this, but mostly there is a lot of hype about the risks of allowing developers to gain access to the production-side of the house — and the risks of allowing operations people to tinker with software development.

    Once an institution imposes good lines of communication between developers and operations people, the two groups can work together to improve the continuous delivery of software without violating any legal definitions of their roles and responsibilities.

    Going beyond that, the high degree of automation that typically accompanies DevOps adoption adoption provides a far more seamless, end-to-end, easily accessible audit trail than today’s manual handovers and coordination via a multiple of emails and documents.

    Myth 2: The software and hardware environments of finserv companies particularly banks, are not compatible with DevOps.

    Some industry people argue that banks and credit card companies have so many legacy-based mainframe applications — that have run unaltered for years — that these institutions do not need to and perhaps even cannot change how they develop software or respond to market forces. Often, the mind-set is reactive, to fix software when it breaks.

    However, proactive banks know that DevOps can improve the software lifecycle of any application through better communications between Dev and Ops, automation, enhanced standardization, and faster delivery of updates. Ironically, this kind of tight collaboration and shared understanding of both the development and operations part of an application lifecycle is common in the mainframe environment, where one team often wears both Dev and Ops hats.

    Myth 3: Change is more disruptive than creative, and is a major cause of system outages.

    Some financial services executives believe that moving to a DevOps model of software creation and management will inevitably increase the frequency of outages and problems in an industry where uptime has often been the gold standard.

    "DevOps is a great fit for any industry looking for ways to break down the technical and cultural walls that divide developers, testers, business analysts, and operations teams"

    Again, this is another example of the conservative and reactive mindset at work — that change is bad and frequent changes are worse for being rife with potential errors. Instead of adopting DevOps, agile practices, and continuous delivery of software, reactive executives say, let’s stick with the way we create software today. Keep the process manual, periodic, and annual; let’s hope that slow, methodical changes done by humans will not be full of errors.

    The key benefit of DevOps and continuous delivery is that new code can be created, tested, re-tested, and released much more frequently with less risk and far superior results to the old way of doing things.

    Myth 4: DevOps must be implemented at once throughout the enterprise.

    Some financial services executives believe that DevOps must be embraced totally or not at all. DevOps can be implemented one step at a time, one application at a time, and its progress can be closely monitored for successes and failures.

    Myths have no place in modern application development and operations management. The goal of DevOps is to create an environment of shared access, control and insight into how applications are created and managed. Properly done, DevOps can minimize errors in software delivery, bring teams closer together, and accelerate the time-to-market of new and updated software.

    tag

    Financial

    Weekly Brief

    loading
    Top 10 DevOps Solution Companies - 2019
    Top 10 DevOps Consulting/Services Companies -2019
    ON THE DECK

    DevOps 2019

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Advancing the Chemical Industry through Digital Transformation

    Advancing the Chemical Industry through Digital Transformation

    Jan Mandrup Olesen, Global Head of Digital Business, Indorama Ventures
    Cultivating a Sustainable Future through Collaboration

    Cultivating a Sustainable Future through Collaboration

    Jiunn Shih, Chief Marketing, Innovation & Sustainability Officer, Zespri International
    Mastering Digital Marketing Strategies

    Mastering Digital Marketing Strategies

    Tasya Aulia, Director of Marketing and Communications, Meliá Hotels International
    Building a Strong Collaborative Framework for Artificial Intelligence

    Building a Strong Collaborative Framework for Artificial Intelligence

    Boon Siew Han, Regional Head of Humanoid Component Business & R&D (Apac & Greater China), Schaeffler
    From Legacy to Agility Through Digital Transformation

    From Legacy to Agility Through Digital Transformation

    Athikom Kanchanavibhu, EVP, Digital & Technology Transformation, Mitr Phol Group
    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Ts. Dr. James Chong, Chief Executive Officer, Columbia Asia Hospital – Tebrau
    Digital Transformation: A Journey Beyond Technology

    Digital Transformation: A Journey Beyond Technology

    John Ang, Group CTO, EtonHouse International Education Group
    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Richa Arora, Senior Director Of Data Governance, Cbre
    Loading...
    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://devops.apacciooutlook.com/cxoinsights/busting-4-devops-myths-in-financial-services-nwid-1892.html