Horizon 2030 for Banking: The Velocity Reality – Navigating Fintech Competition, with Ivan Jennings

Quick Summary

In this episode of Horizon 2030 for Banking from Red Hat, Ivan Jennings, Automation Platform Lead for UKI and CENE, discusses how legacy infrastructure affects the pace of change in financial institutions, and sets out a foundational approach to getting change into the market more quickly.

How Does He Describe the Legacy Challenge?

Ivan says financial institutions are hampered by the legacy infrastructure their businesses were built on, and that the rate of change, particularly with AI, has exposed some real challenges. Many institutions across the UK and Ireland are built on mainframes, which he describes as absolutely reliable and sound technology to build a business on. As the industry moves into cloud infrastructure, Kubernetes and now AI, however, he says it has proved much more challenging to get change into the market at speed.

Where Does He Suggest Starting?

His approach is foundational:

• Start with the operating system, which for Red Hat is Red Hat Enterprise Linux.
• Put a good automation strategy in place to support it and other activities such as deploying code and provisioning infrastructure.
• Then look to containerise existing applications.

What Outcome Does He Describe?

Following that path, he says, will transform the business, allowing code, applications and business functionality to reach the market much more quickly, and to do so in a safe and reliable fashion.

Find Out More

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Watch every episode of Horizon 2030 for Banking from Red Hat on FF News, starting with the series trailer.