This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
During the vendor’s third-quarter financial call, Arista CEO Jayshree Ullal said she is “pleasantly surprised with the faster acceleration of AI pilots in 2024.” Arista Networks is expecting a potential revenue spike of $1.5 billion from AI-based networking growth through 2025. 30, an increase of 7.1%
Whether it’s a financial services firm looking to build a personalized virtual assistant or an insurance company in need of ML models capable of identifying potential fraud, artificial intelligence (AI) is primed to transform nearly every industry. Another challenge here stems from the existing architecture within these organizations.
Accenture reports that the top three sources of technical debt are enterprise applications, AI, and enterprise architecture. Build up: Databases that have grown in size, complexity, and usage build up the need to rearchitect the model and architecture to support that growth over time.
Technology leaders in the financial services sector constantly struggle with the daily challenges of balancing cost, performance, and security the constant demand for high availability means that even a minor system outage could lead to significant financial and reputational losses. Architecture complexity. Vendor lock-in.
Jenga builder: Enterprise architects piece together both reusable and replaceable components and solutions enabling responsive (adaptable, resilient) architectures that accelerate time-to-market without disrupting other components or the architecture overall (e.g. compromising quality, structure, integrity, goals).
Unfortunately, despite hard-earned lessons around what works and what doesn’t, pressure-tested reference architectures for gen AI — what IT executives want most — remain few and far between, she said. As experts in financial services and commodity markets, there must be standard evaluation methods, he said.
Zero Trust architecture was created to solve the limitations of legacy security architectures. It’s the opposite of a firewall and VPN architecture, where once on the corporate network everyone and everything is trusted. In today’s digital age, cybersecurity is no longer an option but a necessity.
The fact is that within enterprises, existing architecture is overly complex, often including new digital systems interconnected with legacy systems. This hybrid architecture is a combination of best and bad practice. For most enterprises stuck in this hybrid state, the way forward is to be more discipline around architecture.
Capitec is the second largest bank in South Africa, and like financial institutions the world over, it’s a potential target for attackers. I was confident that a zero trust architecture with the right vendor would at least help address our security concerns. You and your teams need to be aware of the effort it takes.
With growing concerns over advanced threats, VPN security issues, network complexity, and adversarial AI, enterprises are showing increased interest in a zero trust approach to security and moving away from firewall-and-VPN based architecture. Only 15% do not have a plan to embrace zero trust this year.
It prevents vendor lock-in, gives a lever for strong negotiation, enables business flexibility in strategy execution owing to complicated architecture or regional limitations in terms of security and legal compliance if and when they rise and promotes portability from an application architecture perspective.
With digital operating models altering business processes and the IT landscape, enterprise architecture (EA) — a rigid stalwart of IT — has shown signs of evolving as well. An enterprise architecture tool is often sold as a prerequisite by consulting firms that often earn software commissions.
The move to digital business has wrought profound changes in certain industries, and financial services is one of them. Not only are traditional financial services companies using data and technology to change the game, a plethora of “FinTech” startups are using digital products to dislodge traditional players.
For instance, CIOs in industries like financial services need to monitor how competitors leverage AI for fraud detection or offer personalized services to inform their IT strategies. Now, he focuses on strategic business technology strategy through architectural excellence. Understanding the competitive landscape is also essential.
The deal, which sees Oracle and Carlyle selling their stakes in Ampere, strengthens SoftBanks position in the growing market for AI-optimized processors as major cloud providers increasingly look beyond traditional x86 architecture.
Medallion architecture is an effective framework for financial sector data management with a layered approach to optimize data flow and ultimate consumption.
Understanding this complexity, the FinOps Foundation is developing best practices and frameworks to integrate SaaS into the FinOps architecture. Lastly, in order to match SaaS management with more general financial and operational objectives, cooperation across finance, procurement, IT, and business divisions is essential.
That’s where EVP and CIO Kathy Kay found herself in coming to Principal Financial Group from PG&E in May 2020 with a desire to lead an aggressive plan to adopt digital technologies, ranging from the cloud to AI. Digital Transformation, Financial Services Industry
At Discover® Financial Services, our customers and their trust are key drivers of our technological decisions. With this in mind, we embarked on a digital transformation that enables us to better meet customer needs now and in the future by adopting a lightweight, microservices architecture.
However, as companies expand their operations and adopt multi-cloud architectures, they are faced with an invisible but powerful challenge: Data gravity. Instead of fighting against data gravity, organizations should design architectures that leverage their strengths while mitigating their risks.
Five Tips for CIOs to emerge as Financial Strategists Sangeeta Shankaran Sumesh, CFO turned business and leadership coach shares on how CIOs and tech leaders should become financial strategists as they transform into integral business advisors beyond technologists.
Not only are we providing these tools but also blueprints step-by-step implementation guides and reference architectures, says Puri. By comparison, SUSE, which last reported its financials in 2023, had about $0.67 executive vice president and global services head for AI and industry verticals at Infosys, in a statement.
In 2008, SAP developed the SAP HANA architecture in collaboration with the Hasso Plattner Institute and Stanford University with the goal of analyzing large amounts of data in real-time. The entire architecture of S/4HANA is tightly integrated and coordinated from a software perspective. In 2010, SAP introduced the HANA database.
Build resiliency The pace required for successful transformation allows little time to rest, and workers must be ready to keep up, says Ryan Downing, vice president and CIO of enterprise business solutions at Principal Financial Group. To meet that challenge, Downing focuses on endurance, building a level of resilience.
Uptime forecasts that data center operators running non-latency-sensitive workloads, such as specific AI training tasks, could be financially incentivized or mandated to reduce power use when required. The context for all of this is that the [power] grid, even if there were no data centers, would have a problem meeting demand over time.
Migrating to the cloud without fully understanding workload requirements or optimizing database architectures can lead to overprovisioning and resource sprawl, he warns. To avoid unnecessary expenses, its important to design with a clear understanding of workload-specific needs and align them with the cloud providers architecture.
This shift is reshaping how enterprises plan their cloud architecture, with more organizations seeking flexibility to move workloads between providers based on availability, performance, and cost considerations. Industry-specific considerations Different sectors face unique challenges as they navigate this changing landscape.
We also examine how centralized, hybrid and decentralized data architectures support scalable, trustworthy ecosystems. Fragmented systems, inconsistent definitions, outdated architecture and manual processes contribute to a silent erosion of trust in data. When financial data is inconsistent, reporting becomes unreliable.
CIOs feeling the pressure will likely seek more pragmatic AI applications, platform simplifications, and risk management practices that have short-term benefits while becoming force multipliers to longer-term financial returns. Before gen AI, speed to market drove many application architecture decisions.
CIO.com caught up with Mittal to know more about his plans for the innovation lab, as well as the technology strategy for the financial services company. Blockchain holds promise for financial service companies as it can lead to cheaper and faster transactions, enhanced security, and automated contracts.
With Gen AI interest growing, organizations are forced to examine their data architecture and maturity. This also led to many data modernization projects where specialized business and IT services players with data life-cycle services capabilities have started engaging with clients across different vertical markets.”
Lightmatters approach could flatten this architecture. These benefits would be particularly valuable for financial services, healthcare, research institutions, and technology companies working with large-scale AI deployments.
Others have deprioritized addressing technical debt as well as modernizing legacy systems and architecture , says Sumeet Gupta, senior managing director and leader of the digital transformation and AI transformation teams at FTI Consulting. Many companies are trying to leapfrog, and theres no way they can leapfrog.
The financial services sector is undergoing rapid change as fintechs develop convenient, consumer-focused services that were once the province of traditional banks. What are the greatest challenges that financial services firms face with their digital transformation initiatives?
Legacy issues around performance, speed, availability and latency still cause headaches, and outages risk financial and reputational damage — just look at the CrowdStrike outage ramifications , which will no doubt continue for years to come. Today’s networks face a multitude of challenges as they become more complex and distributed.
A few days ago, I discussed application architecture in banking with a banking software vendor. Starting from there, we had a look at that vendor’s core banking solutions and further back-end systems such as trade finance. The vendor quickly suggested that its solutions align with Forrester’s concept of a lean core.
The six-year high school program is designed for students who don’t have a clear path to college, often for financial reasons. One, in particular, had no plans to go to college due to financial constraints. CUNY works in conjunction with the NYC DOE to offer them free tuition for a two-year Associate degree once they are approved.
Hot technologies for banks also include 5G , natural language processing (NLP) , microservices architecture , and computer vision, according to Forrester’s recent Top Emerging Technologies in Banking In 2022 report. Only 23% of respondents who use AI in financial services use NLP and only 19% use NLU, according to Forrester.
Invest today in the data ecosystems, ethical frameworks, and scalable architectures that will unlock AIs exponential value over the next decade. Before Wellmark, Paul served in technology and program management leadership roles with PNC Financial Services and First Niagara Bank. Think of what that means for the opportunities ahead.
Multiple published reports, including one from CNN , told of a finance worker at a multinational company who was duped into transferring $25 million to fraudsters who used deepfake technology to pose as the company’s chief financial officer in a video conference call. “So
It adopted a microservices architecture to decouple legacy components, allowing for incremental updates without disrupting the entire system. For example, a financial services firm adopted a zero trust security model to ensure that every access request is authenticated and authorized.
Henderson is in the throes of an 18- to 20-month project to consolidate three database architectures for operational efficiencies. IT is also creating a new platform architecture to enable the firm to move off legacy technology and build cloud-based capabilities.
The impact has spread globally, with airports, governments, financial institutions, hospitals, ports, transportation hubs, and media outlets facing significant […]
We organize all of the trending information in your field so you don't have to. Join 83,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content