OverOps and CloudBees Panel Discussion: 4 BIG Software App Challenges For FinServ

OverOps and CloudBees Panel Discussion: 4 BIG Software App Challenges For FinServ

May 5, 2021

In this panel discussion, Bob Kemper, VP of Worldwide Engineering at OverOps, and Anders Wallgren, VP of Technology Strategy at CloudBees, explored four BIG challenges facing financial services software applications: MTTI and MTTR, Avoiding Downtime, Speed and Stability, and Distributed and Partner/External workforce challenges.

The financial services industry has undergone massive disruption in recent years. Now, more than ever, financial institutions need to out-pace the competition in delivering simple, feature-rich and secure digital experiences. But at the crux of these digital transformation initiatives is the speed-stability paradox. Innovation cannot come at the cost of reliability; especially when the financial services industry has to consider governance, security and privacy.

In the financial services industry, the customer experience needs to be seamless. When it comes to the movement of money, any lag or misstep that could lead the user to question the status and safety of their money, even for a moment, can instantaneously erode trust and irreparably impact brand reputation and the bottom line.

As more financial services organizations accelerate release velocity as part of their competitive strategy, they are encountering myriad of software reliability issues – often in mission-critical applications – leading to catastrophic, headline-making outages. This speed-stability conflict is made even more challenging by the pressures of financial industry regulation and compliance that dictate every move. Every move they make is closely scrutinized, and even a single unexpected error can expose the integrity of customer transactions and lead to massive fines and other regulatory consequences.

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