Financial Banking Infographic
Aligning Your Network Operations Plans with your Financial Services Business Overcome the skills gap, maintain compliance, and gain operational efficiency to ensure you’re ready for what’s next
Around the World, Financial Entities Regularly Suffer Digital Outages... Significant/severe outages are not Most significant uncommon in finance publicly reported outages by sector, How would you classify 2019-2021 % the most significant Publicly reported outages by 32 outage that your sector (significant/ organization has had in 2 Notable, serious the past 3 years, either serious/severe) 2019-2021; or severe impact in your own site or a third-party provider site? 1 Preventing service outages and performance degradations can dramatically lower your operational costs and reduces risk Aligning Your Network Operations Plans with your Financial Services Business | 1
Network Visibility Blind Spot is in the Cloud Financial IT organizations must adopt newer, more advanced automation capabilities that replace manual and repetitive processes with proactive prevention and provide the visibility needed to operate efficiently. The next-generation of network automation leverages human intelligence to scale faster and support the cloud while maintaining highly performant and highly available online banking, enterprise, and securities and trading services. of banks Yet fewer than 57% currently run hybrid environments consisting of of the responding institutions public and private cloud as well as traditional on- 25% have implemented tools to track and resolve disruptions to premises deployments. 3 this critical infrastructure. The rapid adoption of technologies, such as cloud, SD-WAN and SDN has fragmented data and visibility. Aligning Your Network Operations Plans with your Financial Services Business | 2
Digital Infrastructure Is Hybrid: Complex, Distributed, and Multi-party Financial Services workloads run in multiple locations The typical financial organization must, on average, deal with regulatory developments 223every day, according to Thomson Reuters. According to a study done by Wolters Kluwer % of U.S. banks 54 are concerned with their institution’s ability to The sheer number of tools needed to manage these fractured IT keep track of changing regulations.4 systems has exploded alongside an ever-increasing sea of regulations. Aligning Your Network Operations Plans with your Financial Services Business | 3
Overcoming the IT Skills Deficit Retaining skilled employees and increasing the talent pool has become more difficult after the pandemic and The Great Resignation The labor participation rate currently remains percentage 1.1points below pre-pandemic levels, with limited signs of a rebound in the near 5 term according to the Bureau of Labor Statistics. Aligning Your Network Operations Plans with your Financial Services Business | 4
A New Automation Frontier The age of automation is already upon us. It’s transforming us in ways we never imagined were possible. The next-generation of network automation is helping financial services IT organizations prevent serious outages, performance degradations 6 and their impacts to the business. The Investment Push Continues of banks Banking LOB budget increases for Banking operations automation budget are increasing operations automation in the next 12- next 12-24 months 7 83% operations 24 months automation budget in next 12-24 months Aligning Your Network Operations Plans with your Financial Services Business | 5
Imperatives for Operational Network Transformation The next big opportunity for automation lies in Day-2 network operations The key to making a strategic operations transformation successful is to intelligently automate network problem diagnosis and outage prevention at scale. Overall, what do you consider to be the most important benefits of fintech for your organization? Aligning Your Network Operations Plans with your Financial Services Business | 6
Navigate Regulatory Requirements Like an Expert Regulators want changes and proof of plans, but if you don’t know where the paperwork is to start a plan, you’re spinning your wheels By 2024 annual investment on regulatory compliance reporting will be $2.7 billion8 Aligning Your Network Operations Plans with your Financial Services Business | 7
Be Protected from the Unintended Consequences of Change Management In the finance world, change equals risk. Devices are everywhere and you must verify they are performing properly, but the amount of work per device is insurmountable. According to Uptime Institute, more than of all data center outages 70% are caused by human error either incorrectly applied changes, or changes that were applied correctly but for some reason not what was intended. Therefore, a change management process must be able to protect application delivery by preventing costly outages from impacting your organization, ensuring maximum uptime, and improving operational efficiency and productivity. Aligning Your Network Operations Plans with your Financial Services Business | 8
A Single Source of Truth With financial services workloads in a distributed environment, a single source of truth across teams can accelerate network tasks and foster collaboration EMA reports that nearly An NSoTbased on partially accurate components will limit the ability to of organizations scale network automation initiatives beyond 10 48% are still relying at least of activities. partially on manual % Most enterprises don’t have an accurate, robust data gathering for their 50 “enterprise class” NSoT (we estimate it is lower than data center network 25%). We recommend investing in a modern NSoTto 9 11 automation tools. scale network automation efforts. Aligning Your Network Operations Plans with your Financial Services Business | 9
Why More Financial Services Organizations Choose NetBrain for Network Automation More financial IT organizations choose NetBrain because it helps them be enablers of their businesses. It reduces their risk posture and gives them the confidence to make accurate changes to the network. That’s because NetBrain is foundationally different than any other automation approach in use today in enterprise networks. It delivers on the promise of Intent-Based Networking (IBN) across any hybrid, multi-vendor network using automation to preserve the desired behaviors (intents) needed for every application to perform consistently. Aligning Your Network Operations Plans with your Financial Services Business | 10
NetBrain Prevents More Types of NetOps Problems for Financial Services. NetBrain helps financial services organizations get control of network operations – today-to help them give their businesses an edge. 1 Source: Uptime Institute Global Survey of IT and Data Center Managers 2020 Financial Services Sector only (n=66) 2 Source: Uptime Institute publicly reported outages database (n=74) 3 IDC eBook Creating the Future Infrastructure for the Banking Industry 4 https://blogs.idc.com/2021/03/22/establishing-resiliency-through-a-modern-regulatory-change-management-strategy/ 5 The employment situation. Sep. 2022 6 Center for Financial Professionals (CeFPro®), 2022 - https://d17802kg5dey7s.cloudfront.net/webapps/mapcrm/eventspeakers/3l3o81o2q9kn4qmnhsq63sm3qt/FINTECH-LEADERS-2022-FINAL.pdf 7 Source: Industry Al Path-2021, JDC May 2021 8 IDC Modernizing Regulatory Change Management in Banking and Financial Services 9 Enterprise Management Associates® EMA Research Report | The Future of Data Center Network Automation 10 Graphics created by Netbrain based on Gartner research. Source: Gartner, Inc., Market Guide for Network Automation Tools, February 22, 2022. 11 Gartner® Gartner, “Market Guide for Network Automation Tools”, Andrew Lerner, Ted Corbett, 22 Feb 2022. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. +1 (800) 605-7964 Copyright © 2023 NetBrain Technologies, Inc. All trademarks referenced herein belong to NetBrain Technologies, Inc [email protected] NB-IG-FBI-013023 www.netbraintech.com
