I recently had the honor of speaking at an internal symposium at one of the largest banks in the United States about the benefits of DevOps for Financial Services (Finserv).
Today, applications are the lifeblood of the business, and nowhere is that more true than in Financial Services, who rely on software to create economic value. Advances in virtualization, data integration, and consumer demand for new functionality have increased the pressure of these organizations to release software faster than ever before. This has led many to explore Agile, DevOps and Continuous Delivery practices as means to accelerate time to market and improve product quality.
When you think about DevOps in large enterprises – it really doesn’t get any more competitive, heavily regulated, complex, risk-averse, relying on legacy systems, etc. – than in Financial Services. Traditionally, regulatory burdens, information security and compliance requirements were all thought of as hinders to DevOps initiatives, with the increased velocity of software production seen as a threat to governance. In recent years, however, (as we’ve seen at the DOES conference,) this risk-conscious and heavily regulated industry is taking the lead – with Finserv organizations being on the cutting edge of advancing modern software delivery. These enterprises prove that DevOps can not only accelerate your time to market, but is also an enabler for achieving better auditory safeguards and improved efficiency, while mitigating risk.
Electric Cloud is working closely with some of the largest financial institutions in the world.
We’ve recently announced a phenomenal finish to 2015 and strong business momentum for 2016, largely fueled by the exciting advancements in DevOps and Release Automation within financial institutions. Last year, ElectricFlow Deploy was selected as the standard Application Release Automation (ARA) solution by several leading Financial Services companies, including a Fortune 10 bank, two leading electronic stock trading companies and one of the industry’s largest mortgage originators. Two of these four customers selected Electric Cloud to replace outdated systems from two very large competitors.
The work that our customers in Finserv are doing around DevOps and Continuous Delivery is truly inspiring!
One such example is E*TRADE. Manuel Edwards, systems engineering manager at E*TRADE spoke at our recent DevOps Enterprise Summit (DOES15) on “How Wall Street Does Continuous Delivery”.
Manuel manages two globally distributed teams: the Release Team, shipping more than 1,400 RPMs every week and the Non-Production Operations team, which maintains more than 2,000 QA hosts running all of the applications a Financial Services Fortune 500 such as E*TRADE requires. Everything that E*TRADE produces, from the website to mobile clients, trading engine, settling systems and so on is built and deployed by Manuel’s team. In addition, his team also manages tools and processes for software updates propagation across the organization, helps with tools for systems maintenance, and works with regulators in case of any audit.
In his talk at DOES, Manuel described some of the patterns used by E*TRADE to speed up the build, test and deploy cycles by 1,200 using ElectricFlow.
In addition to giving a talk at the conference, Manuel was busy giving two excellent interviews: one with InfoQ’s Manuel Pais, and one with Alan Shimel from DevOps.com. I encourage you to watch these short interviews (or read the transcript on the InfoQ site) to learn how E*TRADE is doing DevOps in the Enterprise. Learn how their DevOps journey started, and how Financial Services are seeing huge returns from their investment in DevOps and from streamlining their application release processes and velocity.
Watch the interview with InfoQ:
Watch the interview with DevOps.com:
And, if you’re interested in diving deeper, watch the recording of Manuel’s talk at DOES15:
It’s really exciting to see the great things our Financial Services customers are doing with DevOps, and I look forward to sharing more of these stories in the future!
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