The Financial Services Industry (FSI) is in the midst of an application transformation cycle. This transformation involves modernizing FSI applications into fully digital cloud services to provide bank customers a significantly better user experience. In turn, an improved customer experience opens the door for the FSI to offer tailored products and services. To enable this application modernization strategy, Financial Institutions are adopting a range of new technologies hosted on Cloud infrastructure.
The technologies that are introduced during a Financial Service application modernization effort may include:
Together, these technology components provide the capability for FSI’s to meet market demands by offering mobile-friendly, scalable applications to meet the demand and requirements within a specific geographic region. Each region may have stringent compliance laws which protect the customer privacy and transactional data. The challenge is to figure out how to release these next-generation FSI applications while ensuring that validation activities have been performed to meet regulatory requirements. The net result is that any certification process for a financial application and the associated modernization effort can take weeks, if not months.
The approach to overcoming the challenges mentioned in the previous section is to streamline the application validation and certification process. Quali Cloudshell solution is a self-service orchestration platform that enables FSI’s to design, test and deploy modernized application architectures. It provides the capabilities to manage application complexity with standard self-service blueprints and validate compliance with dynamic environments and automation.
This results in the following business benefits:
Using the CloudShell platform, the FSI application release manager can now quickly automate and streamline these workflows in order to achieve their required application updates.