Cisco: Accelerate and Simplify Hybrid Cloud Operations for Financial Services Companies

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This is the first blog in a series focused on digital innovations in the financial services industry, where we look at some of the most common IT challenges through use cases in financial services companies, and how they advances in technological capabilities are helping to manage these modern challenges around the hybrid. cloud operations, starting with online banking.

We’ve come a long way in online banking technology since before the internet was created. The first remote banking services began with telebanking as the precursor to what we now consider to be the most modern online and mobile options available today. The first versions modern online banking has replaced older programs accessed through desktop computers connected to a dial-up modem used in tandem with bank-provided diskettes.

In today’s climate, the expectation of convenience in an “always on” world necessitates online Bank transactions happen from anywhere, anytime. This is illustrated by a famous quote of Ross McEwan, CEO of Royal Bank of Scotland, when he called the 7.01am tube between Reading and Paddington stations, the bank’s ‘busiest branch’.

Improvements continue to grow in application services built as a mesh of microservices. This architecture allows better control of test procedures and deployments through better operation and more consistent availability of all the different components. Even something as simple as depositing a check online, for example, is quite complex.

Service Mesh Technology has become increasingly popular among DevOps teams due to the flexibility it allows when maintaining, building, and deploying applications in such complex workload environments. The results of a Voice of the Enterprise Survey: DevOps, Workloads and Key Projects 2020 showed that 16% of respondents have adopted service mesh across their IT organizations and these numbers continue to rise as the complexity of hybrid cloud operations demands more flexibility to manage.

The Challenges of Modern Complexity in Mobile Banking

All financial services companies, including born-in-the-cloud banks as well as traditional banks, are going through waves of transformation. The challenge for financial companies is to continuously deliver fast, secure and reliable applications. The pandemic has also dramatically accelerated the need for more available online banking options in recent years. All this enormous complexity has shifted beyond the human scale to manage.

Let’s return to the specific example of online check deposit transaction technology. Everyone’s probably noticed that it’s not uncommon when depositing a check through your bank’s phone app that sometimes the process doesn’t work the first time and an error pops up somewhere along the way. When such issues arise, IT teams need to resolve the issues quickly and of course correct the root cause of the problem. With basic monitoring, IT administrators can see where the error has occurred, but the error must be discovered and resolved quickly to avoid unwanted ramifications for your business. Full-stack observability provides a kind of x-ray vision allowing DevOps teams to see deeper into their technology stack to automatically fix problems, break down silos, and ensure the best customer experiences.

Cisco solutions ensure application performance through high levels of observability

Cisco realized there was a need for a more holistic approach full stack observability on-premises infrastructure and multiple public cloud environments involved in managing application services. IT teams must observe, orchestrate, collect, and analyze telemetry and data at scale to consistently deliver the best user experiences.

The power of full-stack observability within Cisco solutions transforms siled data into actionable insights and shareable context for your IT teams through the advanced capabilities of AppDynamics, thousand eyesand Intersight allowing you to:

  • Get quick visibility into your entire hybrid cloud application topology

  • Receive actionable insights into your critical applications and services

  • Automate workload placement and optimize application resources

What’s coming

I speak to customers frequently to learn more about the specific challenges that accompany their ongoing technology transformations and the ways Cisco, as a trusted technology innovator, continues to expand our offerings to better support and solve those challenges.

In my next blog in this industry vertical series, I’ll explore more ways Cisco solutions are simplifying hybrid cloud operations to help accelerate digital innovation for financial services companies. Stay tuned.

Resources

Did you miss it? Listen to the video replay of Cisco hybrid cloud and cloud-native complexity made simple video on theCUBE channel for more details on how we’re using innovation to solve the biggest hybrid cloud operational challenges across industries.

Read the recent blog by Dhritiman “DD” Dasgupta, Vice President of Product Management for the Cisco Cloud and Compute Team, Cisco Accelerates Hybrid Cloud Operations with Innovations from Intersight, Hyperflex, and UCS X-Series.

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