Many banks are grappling with monolithic technology stacks that have evolved along product lines and customer channels. This is at odds with how customers think and behave: they want banking their way. Legacy technology cannot meet the demands of customers who want real-time banking services, anywhere, anytime. So all banks need to transform to become more customer-centric and responsive. And under threat from FinTechs that are unburdened by legacy technology, they need to reduce costs permanently.
Against this backdrop of change and disruption, all banks need to move from a monolithic infrastructure to one that embraces microservices. The real challenge is to know where to begin and how to plan a migration that unites the bank and gets everyone pointing in the same direction.
GFT adopted Agile principles and continuous delivery methods at the inception of these technologies. We understand how these new methods and technologies can deliver bank transformation. In the bank of the future, DevOps teams are no longer part of an IT department but are part of the beating heart of the business. Sooner or later, all banks must modernise to survive, but early adopters will be well rewarded.