How Enterprise-Level Firms Should Approach Data, Automation, Blockchain | Summary and Q&A

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November 30, 2018
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Investor's Business Daily
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How Enterprise-Level Firms Should Approach Data, Automation, Blockchain

TL;DR

Large financial institutions are facing the challenge of keeping up with the rapidly changing FinTech space. Automation, specifically intent-based networking, can help accelerate innovation and agility in these organizations.

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Questions & Answers

Q: How does automation help address the challenges faced by large financial institutions?

Automation, particularly intent-based networking, enables large institutions to provide greater agility, accelerate innovation, and facilitate partnerships with FinTech firms. It automates network management functions, allowing organizations to be more agile in application development and operations.

Q: What factors hinder the automation process in large financial institutions?

Large institutions have complex networks and systems that have been developed over the years. This makes tasks like command line execution of management functions time-consuming. To implement automation, they require solutions with greater intelligence, such as software-defined networking, to upgrade their infrastructure and provide visibility and manageability.

Q: How does upgrading infrastructure and technology play a role in automation?

Upgrading infrastructure involves deploying products that have the intelligence to support automation, such as software-defined data centers and campuses. These products provide the necessary visibility and manageability for automation. Additionally, the IT organizations within these institutions need to undergo transformation to align with the new technologies and processes.

Q: What is the significance of partnerships with FinTech firms in the automation process?

Partnering with FinTech firms allows financial institutions to leverage their expertise and technology. Automation enables faster integration with these firms and facilitates collaboration, resulting in accelerated innovation and improved services for customers.

Summary & Key Takeaways

  • Large financial institutions struggle to keep up with the pace of change in the FinTech space.

  • Automation and orchestration of infrastructure, specifically intent-based networking, can accelerate innovation and transformation.

  • Upgrading infrastructure and technology, along with transforming IT organizations, is crucial for these institutions.

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