The Rise Of DevOps in Financial Services
For a long time, financial service companies were infamous for their slow-moving IT ecosystems. However, since the rapid growth of DevOps in financial services, the industry has gone from the last horse in the race to the leader in innovation and modern software delivery practices.
Then And Now. What Happened?
DevOps in financial services was an afterthought for a long time because of risk. Security and compliance in finance were stumbling blocks for automation – more so than in other fields – because executives were resistant to expose sensitive details to automation. As a result, digital financial products and updates were few and far between.
Then, companies like Capital One and Barclays began rapid deployment of their software solutions. Other financial services companies that were at the forefront of the industry for decades suddenly saw their competitive advantages erode. The revolution of DevOps in financial services began.
Since implementing DevOps, the financial service industry has gone from the last horse in the race to the leader in innovation and modern software delivery practices. The revolution surprised many, as much of the industry is built on old-school, legacy software and practices. Despite being a fairly conservative sector, executives are now wholeheartedly embracing DevOps and rolling out software faster, more efficiently and more safely than most other sectors.
Worth The Risk
Even with initial opposition, many companies took a risk going with DevOps and have since benefited greatly. Security problems are now found sooner and bugs are squashed before they can become a major threat. Modern IT processes are scaled across an entire enterprise, enabling a vigorous, end-to-end pathway to production.
As with any other burgeoning field, there is still room from growth and improvement, but the battle is won. Every day more businesses are making the switch and not looking back. The cultural shift required for DevOps may take time, but it will change the world – one sector at a time.
If you liked reading about DevOps in financial services, check out this post on DBaaS!