Consumption-based IT: Business transformation you can bank on
Financial services companies, whether banks, insurers, credit unions, or hedge fund companies, are always among the first to investigate the disruptive and competitive power technology can bring.
Financial services companies, whether banks, insurers, credit unions, or hedge fund companies, are always among the first to investigate the disruptive and competitive power technology can bring.
Decades ago, banks were among the first to build an infrastructure for self-service, and in the years that followed mobile banking emerged. Insurers have taken advantage of technology to create more predictive analyses of the vast amounts of data they have at their fingertips. Hedge managers and other financial services staff have tapped into automation to increase efficiencies. And all use applications to deliver easier and more on-target services to their wide array of clients, and to compete with emerging threats from Fintech companies.
And it makes sense, the industry faces rapid pressure to change and adapt. Larger incumbent players must compete with new, smaller, nimble start-ups. The need to digitally transform to gain agility has never been stronger. Nor has the impact it will have on the economy.
But all these past technology transformations, and the digital transformations happening today — like pushing services to the cloud and out to the edge, remotely supporting employees with the data they need, and innovating to improve customer experiences — all create new complexities for IT directors and teams, CTOs, CIOs, and CFOs alike.
Each company leader’s priorities around digital transformation may be different. IT directors need to accelerate the speed at which they supply users with the tools they need, without adding complexity or data risks. CFOs today struggle with the unpredictability of IT costs, and waste. Meanwhile, CTOs and CIOs want the ability to innovate and improve the speed to market for the company’s game-changing applications and services. But the end goal is always the same: ensuring the company can compete today and for years to come.
Changes in financial services can’t be made lightly, but also can’t be ignored. It provides the resiliency crucial for the financial industry. Financial services companies must transform to keep up with:
In this eBook, we’ll look at how to successfully make the shift to digital and a solution from CBTS and HPE that can help drive digital transformation and enable innovation through secure, consumption-based infrastructure.
The rapidly changing business landscape
Increased and evolving regulatory expectations
Relentless and sophisticated security threats
Tech trends impacting financial services
Omnichannel experiences
Financial institutions are increasingly building new omnichannel experiences to support better engagement.
Hybrid cloud Wanting to take advantage of the cloud, while retaining control over data, organizations are adopting complex hybrid cloud environments.
Artificial intelligence (AI) To capture and take advantage of the massive amounts of data banks and other financial organizations have at their fingertips to gain actionable insights requires powerful AI and machine learning (ML).
Why you need to digital transform
Big data
The volume and velocity of data from transactions, customer information and interactions, daily operations, and more is growing exponentially, requiring AI to leverage, and storage solutions in which to reside.
Customer expectations Used to the convenience technology has brought other areas of their lives, customer expectations for modern applications from their financial institutions have exploded.
Competition is everything in financial services, but at the same time risk must be mitigated and client data must be protected. Traditionally, it’s been a difficult high-wire act, and falling — or failing — could mean disaster.
The pressure on financial institutions to speed up how quickly they adopt new digital technologies to address market demand, evolving distribution channels, and regulatory requirements only makes it harder. Now they must walk the same tightrope — only faster! Public cloud has provided organizations with a level of speed and agility, but the public cloud isn’t able to handle every workload the institution or company requires. Whether for reasons of data sovereignty, regulatory compliance, data gravity, or the interdependence between legacy systems and modern applications, some workloads must reside within the enterprise.
Leading financial institutions and financial services companies today must be able to operate effectively from the edge, where IoT devices and mobile customers reside, to the cloud, and on-premises — wherever the business and application needs take them.
Overcoming the Legacy: Modernizing Payment Systems
Every business must get paid, but some banks continue to use 40-yearold legacy payment platforms. Meanwhile, FinTech companies move rapidly with cloud-based systems.
With it, you get complete transaction security support, so at every point in time your sensitive data is locked down and your environment is compliant with industry standards. Meanwhile, the platform evolves in short implementation cycles, so it meets your needs today, but remains competitive tomorrow.
This has given rise to hybrid cloud environments, but it still doesn’t solve the issue of on-premises infrastructure where technology procurement remains too slow to meet the demands of innovation, flexibility is lacking, and IT environments are typically forced to over-invest just to make sure there’s the infrastructure needed for growth because buying cycles are so long.
The answer is to bring a cloud-like experience and consumption-based model to onpremises or co-location data centers. The good news: That’s exactly what HPE GreenLake does.
What is HPE GreenLake?
HPE GreenLake is an innovative approach to procuring infrastructure for your apps and data to reside on, whether in the cloud, at the edge, or in-house. It lets financial organizations remain in control of their data while taking advantage of the cloud’s agility and economy because the data doesn’t leave the enterprise.
Instead, on-premises technology is procured as a managed solution with pay-as-yougo pricing, as if it were virtualized in the cloud. Everything is operated and managed from a centralized location, using a single pane of glass, so the complexity of orchestrating a hybrid environment is reduced. And, because it is consumption-based, it offers the faster time to market, agility, and cost efficiencies the company C-suite is seeking.
Here’s how it works: instead of buying on-premises infrastructure that is significantly overprovisioned, the immediate and projected capacity needed is assessed by CBTS in collaboration with you, and the properly sized IT infrastructure is installed by HPE and CBTS. This includes all the equipment needed today, plus buffer or reserve capacity for tomorrow. Usage is then metered, and the organization pays for just what it uses.
By taking advantage of improved forecasting capabilities, the as-a-service approach
HPE GreenLake brings to financial services companies gives them the disruptive potential needed to compete on an even footing with emerging FinTech competitors. Importantly, it provides the flexibility to easily and rapidly scale up and down as needed.
Knowing that the world of financial services never shuts down, HPE and its partners deliver the fault tolerance needed for mission-critical applications, while providing a single point of contact for all HPE GreenLake equipment. Meanwhile, HPE and its certified partners, like CBTS take care of managing the environment and data in line with the organization’s business policies and IT governance.
The benefits of HPE GreenLake
HPE GreenLake meets the technology needs of financial leaders across multiple organizational silos.
For IT directors, it simplifies IT through a modern, secure, software-defined infrastructure, giving cloud-like ease while letting them keep their apps and data where they are needed.
CIOs can rest easy knowing they are maintaining policy and regulatory requirements while adopting the agility and flexibility of the cloud — everywhere. That way they can innovate faster and drive profitability.
Its pay-per-use financial model helps CFOs eliminate waste from overprovisioning (and risks from under-provisioning), driving down the total cost of ownership (TCO) by as much as 45 percent1 while providing unprecedented visibility into IT operations.
HPE GreenLake provides:
Easier operations: HPE and CBTS take care of the heavy lifting with usage analysis and capacity monitoring via HPE GreenLake Central, and proactive maintenance across your entire hybrid environment.
Simplified security: With HPE GreenLake Central you can easily provide role-based access for your users, knowing you are protected by a trusted supply chain and industry-leading zero-trust security architectures.
Accelerated provisioning: Preconfigured offerings are available with a few clicks, and with plug-and-play installation, setup, and configuration users get the resources they need fast.
Agility: Rapidly add prebuilt solutions and capacity to deliver digital experiences faster; experiment, scale, and iterate quickly on-demand.
Visibility: Maintain security and compliance, track usage, and optimize costs with a unified view across your hybrid cloud environment.
Simplicity: Managed, as-a-Service, production-ready infrastructure for your most demanding workloads lets the organization move fast and focus on revenue opportunities.
Predictable costs: Bypass the public cloud’s hidden fees and complicated billing with a simple, predictable monthly invoice from CBTS.
Comprehensive insights: View usage and spend by service, project, location, or business unit, as well as within public and private cloud, data center, and edge environments in HPE GreenLake Central.
HPE GreenLake helps make the path to adopting a modern, edge-centric hybrid cloud infrastructure easier for financial services companies by reducing the complexity of managing multiple environments. Instead, everything is managed centrally, with unified insights and operations at the edge, data center, colocations, and everywhere in between by HPE and CBTS. That way you can focus on innovating, competing, and “making bank” — while IT operations are being constantly optimized for you.
About HPE
Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open and intelligent technology solutions as a service. With offerings spanning Cloud Services, Compute, High Performance Computing & AI, Intelligent Edge, Software, and Storage, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit:
About CBTS
At the Platinum level, CBTS is one of the most trusted partners in HPE’s business. Together we focus on the complexities of your business and the needs of your customers to ensure you have all the tools you need to tackle today’s disruptive threats and achieve your desired business outcomes. For more information visit:
