Technology transformations to modernize the businesses and their operations have significantly roared through introducing devOps architecture into the workable framework. Several fintech organizations have dedicatedly vowed to its usage for marking their growth.
The use of SaaS benefitted from the DevOps provides financial institutions for low on cost to their maintenance and also helps in adopting large-scale digital solutions.
Ranging from the domestic market segment to the international fintech organizations, DevOps for SaaS has started making sense for higher growth prospects while eliminating risks on complex functionalities.
Emerging Opportunities of Banking Organizations with DevOps
Banking landscapes are constantly reshaping or rapidly changing with agile competitors evolving at greater speed. However, the technology richness of DevOps involving banking relationships, being introduced into your technology operations.
DevOps for SaaS has a continued investment in banking software to digitize the core banking operations at ease with lessened competitive and regulatory pressures. With the SaaS pathway, mobile and internet banking has become more seamless.
In the last few quarters, there has been a strong demand uptick in areas that banks and other financial organizations have surpassed customer experience through SaaS benefitting from the DevOps.
Many in-demand software outsourcing services have solved for software access to small scale banking systems. Other regulators take the responsibility for the implementation and maintenance of this software.
Benefits of Implementing DevOps in the Financial Industry
DevOps practices have reliably drawn attention into banking and financial industry owing to their adaptability ease and efficiency. DevOps based SaaS applied across all financial industries stands at surging 80% along with a continuous growth in the coming years.
- In application development, there is a 21% reduction in time spent on fixing & maintaining applications.
- 19% improvement seen in application quality and performance
- 18% increase in the revenue structure
- 35% increase in time for infrastructure improvements
- 15% increase in time for self-improvement
- 60% decrease in application release time
Scaling IT processes across the enterprise while embedding security at all stages of the delivery pipeline breaking down functional silos into individual components. DevOps Practices that are under the plans for implementation across various industries genres:
- Helps increasing alignment and timely occurrence of processes in need between app developers and operations team
- Instant feedback methods from end-users
- Application monitoring on a continuous basis
- Seamless and active participation of business stakeholders
- Continuous integration of source code from developers’ team
- Automated deployment of applications across development, test, staging and production stages
- Automated testing of applications
A Way Forward: Financial Institutions towards the evolving DevOps Culture
DevOps has emerged as the fastest growing technology aspect for the financial services industry due to enhanced CI/CD infrastructure, quality delivery, a collaboration of teams allied with the end-user’s activity altogether.
Essential DevOps practices that transform financial services industry:
- Automation: As a crucial aspect of DevOps, automation substantially benefits the financial services industry in quickening internal processes. In SDLC (Software Development Life Cycle), it comes as an integral part for resource utilization and high productivity across cross-project requirements, updates on software at the enterprise level. It leads to continuous delivery and lessened time to release while ensuring high scalability and compliance with better standards.
- Security: In the financial services industry looking for digital transformation, security is a fundamental factor to get concerned for. DevOps has a quicker delivery cycle which is initially considered to compromise on security aspects however with enhanced security layers, continuous testing and faster recovery cycles. DevSecOps, as an additional advantage, ensures full-fledged security integration across the delivery pipelines.
- Internal functioning: The technological set-up for DevOps in a combination of development and operation teams brings a much joyous approach to the organizational goals. The internal functioning connects the project pipeline to a single platform. Financial organizations to larger into the digital race to bring high-end quality assurance, development skills and effective collaboration that brings ease of functioning for SaaS culture.
- Management Occupancies: Widely-distributed financial structures may have management disagreements over times, DevOps for SaaS brings a reason to viable communication to the process flow when required. Integrated advanced IT processes across all levels ensures smooth functioning while avoiding discrepancies among teams and breaking silos in the software delivery pipelines.
Why DevOps for SaaS in financial Institutions is necessary?
Software outsourcing companies stage successful DevOps journey to ease the processes for several banking and fintech organizations. The growth and evolution of organizations are highly dependent on the product life cycle and development life cycle hosted for end-users.
Top outsourcing companies suggests on meeting user needs as a priority. The development team always play a significant role in minimizing risk dependencies and operational cost of the software. The automation system largely helps in reducing the development cycle without adding more team members. And added to it the troubleshooting becomes an easier process.
DevOps specialists providing software outsourcing services help to assist and setting up environments for development, testing, deployment and handling post-deployment risks if any. DevOps for application development creates an optimal solution for financial organizations that can trust on its efficacies.
Challenges Coming Across Industries
Legacy systems are concerned with retaining the regulatory compliances and security concerns for most financial organizations apart from setting up in-house teams leveraging on costs and mitigating deployment risks.
New trends in DevOps helps in faster operational speed boosting the customer or end-user experience integrated with front-end and back-end infrastructure allied across technology revolutions like CI/CD agile methodologies.
SaaS application development benefitted from DevOps helps in shortening deployment cycles and eases the developer’s head-rolls at different times. Thus, making it possible for the end-users to apply it to their workable platforms. Financial organizations, on the receiving hand, get to lose on spending huge amounts on in-house teams and redundancies. DevOps has been a great answer for SaaS based organizations.
An improved system performance, reduction in release time to the market, cutting of operational cost and efficacy of development through continuous tests make DevOps a reliable and trusted option for all banking and fintech organizations for sure.