Telecom at OpenStack Summit: Here’s what not to miss at the show

Join Red Hat’s telecommunications team at OpenStack Summit Berlin, November 13-15, to learn about virtual central office (VCO), open platform for network functions virtualization (OPNFV), smart OpenStack cloud, Kubernetes, Red Hat Ceph Storage, and more. With more than 200 sessions and a number of extra events there’s a lot happening this year! To give your summit schedule some focus, keep reading for a highlight of key sessions, lightning talks, and events we recommend.

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What’s the future of open development platforms? Find out at an upcoming FINOS forum.

Cut support and operations costs. Modernize IT systems to better service customers and associates. Provide more personalized engagement opportunities that are channel-agnostic. These are just a few of the pressing challenges today’s financial services companies face. One way to help overcome these challenges is the adoption of open source technologies and more collaborative models like open banking.

Historically, the financial services industry has been more conservative when it comes to adopting new technologies and participating in more collaborative ecosystems – even if they have the potential to drive innovation and boost productivity. That may be due to the legal, IP, and compliance regulations that dominate the industry. So, for fintech developers to fully move out of their comfort zones and into open banking — defined as a network of financial institutions’ systems that fosters secure data sharing through application programming interfaces (APIs) – they will need secure continuous integration/continuous delivery (CI/CD) pipelines across the open source community software supply chain. That’s where the Fintech Open Source Foundation (FINOS) Open Developer Platform (ODP) comes in.

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Preparing to be open in open banking

If I had to sum up a theme from my second day at Sibos, it would be open banking. Sibos is an annual week-long event that bills itself as a “premier business forum” for the financial community to gather and collaborate around payments, securities, trade, and cash management. At this year’s gathering in Sydney, Australia, a number of sessions have focused on initiatives around open banking and open APIs.

Several of the live polls throughout sessions at Sibos have focused on customer relationships – putting the customer (and partner) at the core, and building initiatives around that to become a more open banking institution.

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The network effect of blockchain

The impact of decentralization to financial services was abundantly clear to me on the first day of Sibos.

Moving almost $2 trillion in securities from a legacy system to distributed ledger technology (DLT), the transition of the Australian Securities Exchange to a blockchain is one of the more public use cases to date. Transitioning banks to DLT, whether that be for treasury services, correspondent bank payments, settlements, securities or other applications, getting the use case right from the beginning is an important first step to successful adoptions.

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Deborah Bryant keynotes on open source in telecom at AstriCon 2018

Growing demand for streaming video, ever-expanding smartphone capabilities, virtual reality, the internet of things (IoT), and other next-generation technologies are pushing telecommunications service providers to adopt new business models and deliver more advanced services. And more and more, they are pursuing open source solutions to support these efforts.

Red Hat’s Deborah Bryant, senior director of open source and standards, will explore this shift and the dramatic role open source has played as a disruptor in telecommunications, in her keynote presentation at AstriCon 2018, October 9-11, at the Omni Orlando Resort at ChampionsGate. The Asterisk PBX Project for which the event is named is one of the oldest and well-established open source community projects in telecommunications.

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ONS Europe: Open source is core to Telco modernization projects

Service providers around the world are modernizing their networks, and open source has been core to their digital transformation. Nowhere was that more apparent than at last week’s Open Networking Summit Europe, where service providers and open source partners gathered to celebrate open source innovation.

The show kicked off with the release of a report from The Linux Foundation and six industry sponsors, including Red Hat, that underscored the commitment service providers are making to open source. According to the survey, conducted by analyst firm Heavy Reading, 98 percent of respondents expressed confidence in open networking solutions performing at the same level as traditional networking solutions. They also signaled confidence in open source solutions, with 69 percent of service providers surveyed indicating that they are currently using open source solutions in production networks.

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Where to find Red Hat at ONS Europe 2018: Exploring containers, blockchain, and more

Here at Red Hat, we are excited to join partners, customers, and The Linux Foundation for the 2018 Open Networking Summit (ONS) Europe, September 25-27, in Amsterdam. We have a lot on the schedule for service providers, with presentations covering topics like moving your virtual machine virtual network functions (VNFs) to a container environment, blockchain for telcos, and an OPNFV tutorial.

Join us in the Red Hat booth for demos on OpenDaylight (ODL) and Kubernetes; Prometheus; and Kubernetes for network functions virtualization (NFV) – Multus and single root input/output virtualization (SR-IOV). And don’t miss the community-developed Virtual Central Office (VCO) 2.0 demo in the Linux Foundation booth to the left of the main entrance to the convention center, where our Red Hat team also will be available to answer questions.

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Virtual Central Office 2.0: It takes a community

The central office plays an important role for service providers: as the termination point for subscriber connectivity, it’s the last physical interface with residential and business customers for service delivery. As service providers attempt to deliver services closer to the customer by leveraging computing capabilities at the edge, the central office is poised to play a key role in their digital transformation journeys. But there’s work to be done in central offices to prepare them for this role.

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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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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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