Successful financial institutions understand the importance of providing exceptional customer experiences. The ability to delight customers comes from creating personalized solutions that anticipate a customer’s needs and are available whenever the customer wants. Open banking may provide the perfect opportunity for financial institutions to redefine and prioritize the value they bring to their customers.
Continue reading “Open banking — how to leverage open APIs for competitive advantage in financial services”
“When we speak of free software, we are referring to freedom, not price.”*
We all know about the benefits of open source software. Many in the development community within the financial services industry believe that the contributions of a community of developers providing extensive peer review help deliver a more secure, reliable and stable product. The ability to more rapidly deploy new versions provides fertile ground for innovation and collaboration. It is not surprising that open source has gained in popularity among the world’s leading financial institutions and that the developer community sees that the benefits can go beyond the Linux operating system. Virtually every component in the applications software stack may now be sourced from open source software. So, what is the value of an enterprise subscription to open source solutions?
Continue reading “Exploring the hidden costs of using alternative unsupported community software”
With today’s rapidly changing market conditions and the complex regulatory and technology landscape, financial institutions constantly struggle to quickly and accurately calculate and predict risk. They are often hindered by legacy risk calculation platforms that:
- Can’t be easily updated to meet constantly changing market conditions and compliance requirements, or to more accurately predict a risk profile
- Can’t scale to handle the massive volume of data that must be stored for compliance purposes
- Don’t provide the speed and accuracy required by today’s users
- Often run on expensive proprietary vendor software and hardware platforms
Continue reading “The open source approach to risk analytics — serving financial institutions in the hyper-connected world”
In my last blog, we reiterated the definition of blockchain — “a distributed, decentralized transaction ledger saved by each node in the network, a peer-to-peer system with no central authority or database which manages the transaction flow” , and discussed the many ways that financial institutions can plan for and capitalize on blockchain, looking specifically at use cases in insurance, remittance, asset management, trade finance, and know your customer (KYC).
Continue reading “The future of blockchain — leveraging the possibilities of Blockchain-as-a Service”
As a new Red Hatter, focused on the financial services industry and attending my first Red Hat Summit, I was truly blown away by the stories our financial services customers shared on the main stage, during many breakouts and panel discussions, and as a part of our Financial Services Industry session. Hosting Summit in my hometown, Boston made it even more special. I had the opportunity to share the beauty of a crisp early morning run along the Seaport district with dozens of Red Hat Summit attendees, as well as the ultimate baseball experience that only comes from a night at Fenway Park — especially when the Red Sox win! All the while, talking with people who are passionate about the open source community and empowering the individual — what a great experience!
Continue reading “Financial Services Leaders — Phenomenal Stories from Red Hat Summit 2017”
Red Hat Summit is less than two weeks away but, don’t worry, there’s still time to register! Don’t miss the opportunity to join more than 600 financial services industry leaders from around the world in Boston on May 2-4 for engaging sessions on open source innovation in financial services, expert keynotes, and tons of networking opportunities!
I am especially looking forward to the Financial Services Breakout on Tuesday, May 2 from 3:30-5:30pm, in Room 209 of Boston’s beautiful Convention & Exhibition Center. Red Hat continues to see strong demand for our leading-edge technologies including the use of containers and OpenShift within financial services. Our hope is that the Financial Services Breakout will give you a great opportunity to share best practices around how open source is powering innovation at your organization while building collaborative relationships you can take back from Summit.
Continue reading “Financial Services Leaders — Shipping up to Boston for Red Hat Summit 2017”
In my last blog, we discussed the potential of blockchain and some of the interesting partnerships cropping up to explore the variety of uses within financial services. This blog will discuss the many ways that financial institutions can plan for and capitalize on blockchain. As we discussed, blockchain represents a significant shift in the way financial transactions are executed, and it will likely take time for financial institutions to fully account for the benefits and risks that blockchain has in store. But, the motivation is real — blockchain technology could save financial institutions tremendous amounts of money and time!
Continue reading “The future of blockchain — how can financial institutions embrace it and win?”
As the new Solutions Marketing Manager for Financial Services at Red Hat, I am thrilled to be attending my very first Red Hat Summit! Please join me and leaders from the financial services community in Boston on May 2-4 for engaging sessions on open source innovation in financial services, expert keynotes, and tons of networking opportunities!
Continue reading “Join Financial Services Leaders at Red Hat Summit 2017”
The pervasive adoption of digital technology for financial transactions has spawned new markets within the financial services industry, and blockchain applications represent one of the more transformational technologies to emerge — one that has the potential to change how financial institutions manage their data, applications, transactions, and business processes.
Continue reading “The future of blockchain — how will the distributed ledger technology change financial services?”