Driving Innovation in Financial Services - Perspective From SIBOS with Red Hat and Intel

Alessandro Petroni, Global Head of Strategy, Financial Services at Red Hat and Parviz Peiravi, CTO Financial Services, Intel sat down together at SIBOS to discuss the technological innovations that financial institutions need to be laser-focused on in order to remain competitive. Sibos was perfect setting for the conversation. As the premier financial services event of the year, Sibos brings together thousands of senior business leaders and industry thought leaders from financial institutions around the globe, who are all there with one purpose — to building the future of financial services, together.

In this interview, you will hear expert advice about how successful financial institutions are moving from strategy to implementation. Highlighted is the importance of "failing fast"., which allows for a safe place where teams from development and operations are comfortable collaborating and therefore, making adjustments and improvements, and ultimately delivering more quickly. What was clear from the conversation is the fact that DevOps in not just technology, financial institutions must also spend planning time on culture and processes. Often, culture and process barriers are the obstacles inhibiting financial institutions from achieving aspired results. In order to truly move from strategy to implementation, organizations need to identify the right projects to start and to learn the lessons of cultural transformation. Often, greenfield projects are better candidates as there are no or limited pre-existing constraints.
The important thing, as Alessandro points out, is to create and nurture a ‘safe environment’ that fosters freedom to experiment and learn lessons that can be reused as feedback to refine the process.