New customer demands, technology, and competition are forcing the financial industry to rethink their workload and payload challenges. Financial institutions not only need to meet, but exceed customer expectations for delivering fast, high-performing, resilient, and secure digital experiences.
The motives vary from institution to institution; reduce IT spend, use enterprise resource planning (ERP) upgrades as opportunities to innovate business processes, leverage new capabilities in the form of software vendors, etc. In order for these institutions to make digital transformation a reality, they must capture leadership mindshare and create an organizationally aligned answer to the question:
“What does digital transformation mean for us?”
While this answer varies by company, a trend is emerging on how to begin enabling that transformation. Though regulation and compliance currently stands in the way of total cloud adoption, study after study* point to the industry as a whole undergoing the bimodal and hybrid cloud seachange.
- CIOs expect cloud consumption (private/public/hybrid) to rise from 31% consumption in 2014 to 58% in 2018.
- Public cloud adoption in predicted to attain the fastest growth rate, rising from 8% of consumption in 2014 to 19% in 2018.
- SaaS deployments are expected to increase from 33% of applications deployments today to 56% of deployments over the next five SaaS subscription spend is expected to be 15% greater than prior application software maintenance spend.
- Senior IT leaders predict that the percentage of IT consumption on their internal infrastructure will fall from 67% to 42% from 2104 to 2018 as cloud adoption accelerates.
- Public cloud is expected to comprise 20% of total workloads by 2018, up from 8% in 2014. It also reported that these organizations.
Regardless of the disposition of some internal security analysts and compliance departments, considerations and implementations of hybrid cloud (best-of-both worlds) is becoming the preferred approach. The objections are not necessarily talent or compliance related. Rather, the single biggest issue standing in the way of financial organizations achieving their hybrid cloud objectives is the gaps around information — big data, analytics, and information management.
With major workloads being interrupted and comprised more frequently by DDoS attacks, routing leaks, BGP hijacking, ISP performance issues and an array of other service types of service delivery disruptions, the performance of the internet continues to be a critical blind spot for most financial organizations.
Coupling the security risks of moving critical applications and content to a cloud environment lives a myriad of additional business continuity challenges, like:
- Understanding and supporting legacy assets and mainframe systems, but also looking forward
- Creating a resilient infrastructure that isn’t “all-in”
- Smartly deploying fault tolerant workloads in closer proximity to my users without enduring high costs
- Smartly moving away from MPLS private network to public cloud and still honoring SLAs and remaining secure
- Planning and executing a better price vs performance strategy across multiple CDN and cloud hosting providers
- Load-balancing workloads across my service providers with cost and fault-tolerance in mind
- Identifying infrastructure deployments and trends on how other organizations are optimizing reach to new and current markets
Say Hello to the Finance Industry’s Easiest Digital Transformation Enabler
One of the best tools to give you that control is the DNS (Domain Name System), which is a foundational component of the internet. DNS needs to be a part of your digital transformation. Whether it’s architecting Primary, Slave, Dual Primary, Hidden Master, or IP load balancing in the cloud, orchestrating Software Defined DNS to support workloads that will (for the foreseeable future) remain in a Data Center can offer the option to support new generation applications in a public or private cloud instance.
A critical component to the hybrid cloud continuum, SD DNS provides capabilities to shift traffic between cloud and on-premise assets based on any number of pre-selected factors including but not limited to: price/performance, user SLAs, geo-data, CDN performance, cloud hosting performance, transit availability, transit performance, and endpoint health.
The financial institutions that work with Dyn are better able to support their disparate deployments, typically Public/Private Cloud and Data Center environments because SD DNS offloads resolution, performance, and triage from your infrastructure to the cloud. Built on a global IP Anycast platform, our DNS for Internet Performance is architected for availability and performance and can maintain resolution even though the largest DDoS attacks. Deployed as a primary or secondary solution, DNS for Internet Performance is an easy enabler and on-road to your digital transformation.
For every problem and opportunity out on the internet, there are a number of possible solutions. It’s really not a lack of choice, but a lack of time, trust, and focus. It’s an unfortunate truth that often organizations wait until they have a major incident before planning or executing their digital transformation strategy. It’s important to partner with a provider that has and expert level of understanding and experience with how financial institutions are better able to move to full multi-vendor, fault tolerant environments, where anything may fail and the network adapts in a self healing ecosystem.
*Source: Nomura research
Mikel Steadman is the Director of Sales and Solutions Engineering at Dyn, the world leader in Internet Performance Solutions that delivers traffic management, message management, and performance assurance. Follow on Twitter: @MikelSteadman & @Dyn.