Barclays, the British multinational banking and financial services giant, recently spent 18 months implementing and adopting agile DevOps working practices. The company did not only incorporate these practices in IT, but in all other areas of the business including HR, auditing, security, compliance, the investment bank, and the retail bank.
That commitment and strategic spend certainly did not come cheap, but the financial services sector, perhaps more than any other, is under immense competitive pressure, forcing companies to adopt newer and more efficient fintech strategies. Barclays was so committed to the task that over 10,000 employees were trained anew.
“There is a huge amount of disruption and innovation going on at the moment, and companies that do not change will not survive. Its survival of the most adaptable,” said Jonathan Smart, head of development services at Barclays.
Banking is an especially important sector because an outage can have a catastrophic impact. For example, Barclays’ payment processing system handles transactions that equate to 30% of the UK’s GDP every day! Any issues can impact entire economies.
Before implementing the new system, deploying a single piece of code was a 56-day process. Now Barclays pushes updates within a 4-week timeframe. The system has given Barclays a leg up on other firms in the industry which failed to implement their own DevOps solution. Barclays senior management has supported the effort since the start.
“It’s a better way of working. We don’t need any survival anxiety to show it is a better way of working. We know it reduces risk – delivery risk – and we know it increases quality,” added Smart.