Small financial service companies are infamous for their slow-moving IT ecosystems. This is mainly due to high expectations customers tend to have when their money is involved. Security and compliance are challenges that—more than in any other field—require the utmost attention. As a result, financial products, and updates to said products, come few and far in between.
When massive companies like Google began rapid deployment of their software solutions, the playing field became uneven and big organizations had the upper hand against the small firms for years. They revolutionized the industry using sheer manpower and resources, leaving the smaller players to scramble for a solution. And then, DevOps caught their eye.
Since implementing DevOps, the financial service industry has gone from the last horse in the race to the leader in innovation and modern software delivery practices. The revolution surprised many, as much of the industry is built on old legacy software and practices. Despite being a fairly conservative sector, executives are now wholeheartedly embracing DevOps and rolling out software faster, more efficiently, and more safely than most other sectors.
Even with initial opposition, many companies took a risk going with DevOps and have since benefited greatly. Security problems are now found sooner, and bugs are squashed before they can become a major threat. Modern IT processes are scaled across an entire enterprise, enabling a vigorous, end-to-end pathway to production.
As with any other burgeoning field, there is still room for growth and improvement, but the battle is won. Every day more businesses are making the switch and not looking back. The cultural shift required for DevOps may take time, but it will change the world—one sector at a time.
So what about DevOps for the database? Download our white paper: The Role of DevOps for Database in Financial Institutions