Build an innovation environment to keep pace with business change
Banking products and services must integrate security by design, support scalability to respond to the needs of the market, and remain relevant to customers. Building an agile technology environment that can meet changing requirements requires a platform design for modular, flexible architecture. A bank’s IT platform needs to be able to adapt to new demands, modern development tools, and industry standards, which enforce fault tolerance to minimize unplanned downtime and compliance to regulations. An open source platform—tested to enterprise standards for coreless banking—makes it possible for loosely coupled microservices and modular business functions to be quickly composed with existing tools, as well as new technologies from open source communities and partners.
Creating new digital experiences quickly also means that these applications will better align with changing business conditions, offering differentiated customer experiences and meeting compliance requirements. This kind of flexibility allows banks to build optimized application delivery pipelines that can more efficiently meet the market needs and take advantage of new customer opportunities.
Building efficiency into application delivery pipelines is achieved, at least in part, by IT automation. Automation requires some degree of standardization to address excessive compatibility burdens across different application environments. Standardizing IT environments also reduces incompatibility with third-party components and prevents common developer bottlenecks associated with technology versioning.
An open platform with iterative, microservices-based architectures—that are based on application programming interfaces (APIs), real-time event streams, and loosely coupled modular components—supports the standardization needed for an automated application delivery pipeline. This pipeline has the benefit of consistently supporting any environment, without requiring code rewrites. As a result, development teams can write their code once, run it anywhere, and adopt third-party components from any originating source, avoiding constraints imposed by vendor lock-in, for leading product and service innovation.