Events Update: Where to find Red Hat’s financial services team this fall

If there’s one thing open source gets high marks for, it’s the incredibly strong foundation of communities (there are more than 90,000 community members across 183 countries working on OpenStack alone!). And in our opinion, there’s nothing better than stepping outside our offices and into the communities, be they OpenStack contributors, Red Hat partners, and our customers. This fall, we have plenty of opportunities to do just that, with a solid schedule of events all over the world.

We look forward to talking with you about open banking, digital engagement, transactional efficiency, and more. Keep reading for details on where you can find us, and we look forward to seeing you wherever our paths cross this fall.

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Want to succeed amid regulations and competition? Don’t put your head in the sand.

A little competition, even in business, can be a good thing. In today’s changing financial services industry landscape, there are new and changing reasons why providers and banks should be aware of the competition and put their best foot forward. These include new regulations and increased demands by customers to be agile and versatile, especially when it comes to digital banking. In order to have a leg up over the competition, banks should approach new opportunities and the challenges that regulations bring head on with strategic focus, open source, and agile integration.

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Thrive in a world of rapid technology adoption with Open Banking and DevOps

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.

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Empowering digital transformation in banking

“It’s all about the app.” Chris Wright, Vice President and Chief Technology Officer at Red Hat

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.

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Containers helps banks become market movers

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.

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Financial firms put blockchain on their technology roadmaps

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.

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Red Hat Summit insider’s look at instant payment processing, European style.

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.

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Nordea, Barclays, and more to headline financial services breakout session at Red Hat Summit

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.

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Join Us: IT automation for financial services organizations

IT innovation within your business is vital to staying competitive and meeting customer expectations, regardless of your specific industry. For financial services organizations, long software release cycles, the high cost of managing complex infrastructures, and the lack of easy scalability with existing solutions can hamper a development team’s productivity. IT process automation is critical to making IT faster, more predictable, more collaborative, and more efficient, while freeing administrators to focus on efforts with the greatest organizational value. Check out our on-demand webinar series to learn more, and help jumpstart IT process automation for your financial services organization.

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Red Hat Joins the Fintech Open Source Foundation (FINOS)

Red Hat prides itself in leading the way in community-based innovation and associated best practices for enterprise consumption. This is why we are thrilled to announce that we have joined the Fintech Open Source Foundation (FINOS). FINOS is a nonprofit organization promoting open innovation in the financial services community. Red Hat OpenShift is providing the underlying technology for FINOS’ Open Developer Platform (ODP), one of the leading venues for community development within the financial services community.

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