We’ve all heard the mantra that every company is now a software company. But unlike some of the most successful software companies – including giants Google, Amazon, Netflix and Facebook – many businesses in other industries have yet to adopt the practices and platforms that can enable them to build better and more reliable software, faster.
With examples of more than a 20 percent decrease in branches over the past ten years at large North American banks, it’s no wonder that 42 percent of banks are well on their way to having digital become the primary distribution channel. In fact, 92 percent of global banks surveyed plan to begin their transformation to digital as the primary distribution channel in 2019.
Given efforts are underway, many banks are now wondering how to make this shift more efficient, repeatable, and even automated. Red Hat vice president and chief technology officer, Chris Wright, recently provided insights and described how banks are using technology to move beyond surviving digitization, instead creating environments that enable continual digital innovation.
Companies have embraced cloud, and many are starting to diversify their cloud providers. That’s putting a new spotlight on the container application platform. And as the container application platform gains ground, understanding the benefits and challenges becomes more relevant.
The container application platform is designed to automate the hosting, configuration, deployment, and administration of application stacks across any cloud provider. It gives application developers self-service access so they can easily deploy applications on demand. That can help banks move more quickly and decrease time to market in the increasingly competitive environment of financial services.
Even though it’s relatively still early days for blockchain, companies are asking plenty of questions. Some are even experimenting. ITWeb, a news site in South Africa, spoke with Richard Feldmann, global director of financial services, Red Hat, and covered Red Hat Summit last month in San Francisco, including a look at blockchain.
Didn’t get a chance to attend Red Hat Summit 2018? Or were you there, but so busy you missed some great telecommunications sessions? Or maybe you did see everything, and just want a refresher! On June 27, Red Hat is hosting a webinar: The future of telecommunications is open—Red Hat Summit 2018 highlights.
Join Red Hat this week at OpenStack Summit, May 21-24, 2018, in Vancouver, BC. We will be presenting on a variety of telecommunications topics including network functions virtualization (NFV), creating an open telco model, cloud-native applications, and more. Red Hat’s Margaret Dawson, vice president of portfolio product marketing, will also be presenting at the Women of OpenStack Networking Lunch, sponsored by Red Hat, on Wednesday, May 23 at 12:30 p.m.
There are also a number of sessions that are relevant to Telco and related digital transformation projects. We’ve curated a short list of sessions of interest below, but be sure to check our trail map on the NFV tab of our OpenStack Summit site. And make sure to stop by our booth A19 to check out our latest demos or just say hello!
Have you ever experienced buyer’s remorse? Maybe you bought something significant on a whim like a new car or the latest cool gadget, without thinking it completely through, and a few days or weeks later you wonder why you now own something that doesn’t really deliver what you were expecting.
These same experiences can occur in the service provider and telecommunications industries. There’s a lot of hype around the latest technologies saving money, increasing revenues, and expanding wallet share with customers. Meanwhile, are service providers really getting the business benefits they expect from these technologies? As consumers, most of us don’t even think much about these challenges. Instead, we’re focused on finding improvements for our lives and economic well-being by searching for choice both in the goods and services that we consume, and in how we consume them.
Telecommunications companies have seen explosive growth in network traffic in recent years due in large part to over-the-top (OTT) service providers like Netflix, YouTube, Hulu, and other apps that demand high network bandwidth. Given that these services are not likely going to stop operation anytime soon – and that new OTT services are being introduced at an accelerated rate – telcos are left needing significantly more network capacity.
In late 2017, SIA (Societá Interbancaria per l’Automazione) launched a new digital platform that lets people in 34 countries across Europe transfer and receive sums of up to €15,000 per individual transaction in seconds, 24 hours a day, every day of the year. It’s a system that can process 27 million payments daily, with an average round trip of 20 milliseconds and a 99.999% availability, and you can hear all about it at this year’s Red Hat Summit, May 8 – 10 at San Francisco’s Moscone Center.
As you plan your schedule at Red Hat Summit, May 8 – 10 at San Francisco’s Moscone Center, we hope you’ll make time to join us for a special financial services industry session from 2:30 – 5:00 p.m. on Tuesday, May 8, in room 2012. The session, entitled “How cloud, APIs, and automation are changing financial services in a digital world,” will feature talks from some of our top FSI customers including Nordea and Barclays. Following these presentations, all these companies will be joined by the Bank of Montreal for a panel discussion moderated by Gabriele Columbro, Executive Director FINOS, Fintech Open Source Foundation. We’ll cap things off with a Financial Services Happy Hour from 5:00 – 6:30 p.m.