Financial institutions (FIs) are increasingly faced with the need for agility and business velocity to keep pace with changing economic conditions, emerging competition from fintechs and challenger banks and increased customer expectations while satisfying regulatory and compliance requirements.
Embracing the next phase of digital transformation is an imperative for financial institutions to sustain and grow in a competitive environment of rising cost pressures. Given the need for rapid digitisation of their businesses, financial institutions need an architecture approach where a set of loosely coupled services can be developed, deployed, and maintained independently.
A microservices architecture offers agility, faster development and a quicker deployment cycle. It lays the foundation for an application development approach - ‘cloud-native’ that can help meet FIs’ need to adapt, innovate and transform at speed and create a more cost-effective base for enterprise technology. Open source cloud-native technologies will enable more and more financial institutions to build and run scalable applications in modern, dynamic environments across clouds, on-premises and edge devices.
In this white paper you will have some answers to the following questions:
- Why cloud-native is not just another programming model?
- What are the various technologies that form part of cloud-native?
- How various elements of cloud-native approach enable financial institutions to adapt, innovate and transform at speed?