“This standardization means better interoperability between our systems and helps us avoid the incompatibility issues we tend to see with proprietary software.” — Pablo Recepter, CIO at BCCL
As industry and regulatory environments in Argentina have evolved, Banco Credicoop Cooperativo Limitado (BCCL) needed to upgrade its core banking platform as part of its digital transformation initiative. To take advantage of this new platform, BCCL, a large cooperative bank that handles 2.65 million customer accounts and up to 4 million transactions a day in 267 branches and 24 service centers across the country, also needed to upgrade its software to create a robust IT foundation for its core banking systems and Temenos software.
Keeping pace with change
According to Pablo Recepter, CIO at BCCL, the project’s goal was to implement the necessary technology to ensure the bank’s transactions could function reliably and efficiently in an increasingly complex industry, as well as meet changing regulatory requirements. Cost containment was another major consideration.
After evaluating several solutions, BCCL selected open source solutions from Red Hat, a Temenos certified partner. Already, the open source Red Hat platform has met key imperatives of BCCL’s operations so it can offer the kinds of innovative banking services it wants to deliver to its customers, effectively and safely operate in a complex regulatory environment and scale to meet its higher processing requirements.
Continue reading “BCCL upgrades core banking platform with Red Hat and Temenos”
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.
Continue reading “Deborah Bryant keynotes on open source in telecom at AstriCon 2018”
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.
Continue reading “ONS Europe: Open source is core to Telco modernization projects”
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.
Continue reading “Where to find Red Hat at ONS Europe 2018: Exploring containers, blockchain, and more”
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.
Continue reading “Events Update: Where to find Red Hat’s financial services team this fall”
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.
Continue reading “Want to succeed amid regulations and competition? Don’t put your head in the sand.”
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.
Continue reading “The future is open – is your business at risk?”
Open source has come a long way since Red Hat took its first steps 25 years ago. Our upstream first philosophy has been the driving force for all the projects to which Red Hat contribute, and because of this we’ve decided to feature a telecom industry session with the theme, “The Future of Telco is Open.” This session is intended for all users of open source technologies in the telecommunications industry, including, but not limited to, independent software vendors, hardware manufacturers, and customers.
Continue reading “Red Hat Summit Telecom Industry Session; Customer Panel”
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.
Continue reading “Red Hat Joins the Fintech Open Source Foundation (FINOS)”
In modern times, financial markets are sensitive to any number of factors – geopolitics, economic data, shifting prices on commodities, regional unrest, even market sentiment. And that sensitivity puts pressure on financial firms also contending with globalization, market competition and changes in regulation and international capital movements. To thrive amid all that – and work smarter, better and faster – consider IT automation. Want to know more? Check out this Red Hat solution brief.
Continue reading “Implement IT automation to work smarter, better and faster in financial services”