Today’s technological advances, growing digital disrupters, new regulatory requirements and high customer expectations are pressuring bank CIOs to identify new sources for delivering IT modernization and digital innovation. Determining how to respond in a balanced way that is both stable and agile presents its own unique challenges, and a paper published this past April–“Digital Innovation in Banks: IT Infrastructure Modernization Accelerates Progress,” offers sage advice.
Presented jointly by Gartner, Intel and Red Hat, the paper provides analysis and recommendations for key factors in today’s banking industry including:
- How customer demand and competitive disruption is driving financial technology acquisitions and digital innovation
- The urgent need to improve customer experience is pushing CIOs to acquire or partner for design and customer experience development
- CIOs must be more agile and constantly create new digital banking capabilities due to rapidly changing technology and customer environments
- The increasing commoditization of existing products, as well as disruption from banks and nonbanks, are leading bank CEOs and CIOs to create sources of innovation and revenue
The paper also delves into how modernized infrastructure solutions and accelerated application delivery can help solve for these challenges. It highlights how Red Hat and Intel have collaborated on developing optimized hardware and software that spans modernization initiatives, from modular upgrades of traditional infrastructure to new, agile infrastructures based on the latest technologies.
What challenges do you face in your efforts to keep pace? Share your thoughts below in the comments section.