Juniper and BT partnering to address financial services challenges
Jun 30, 2016
CIOs at financial services institutions have some unique challenges facing them:
IT infrastructure is critical to their business, yet it has been built up over decades and in many cases it requires significant modernisation
Since the financial crisis budgets in the financial services industry have been tightened in response to difficult macro-economic conditions, and a step change in regulatory scrutiny
Security is not just an intangible risk in financial services. It is central the business, as illustrated by the recent SWIFT hacks and the bankruptcy of the Mt Gox bitcoin exchange following a cyber attack
In addition to these unique challenges in the financial services industry they also face the challenge of adapting to digital and mobile technologies, as is the case in almost every industry.
Recognising these unique challenges facing the industry, Juniper and BT have joined forces to commission a white paper from Ovum that looks in to these issues and how CIOs should respond to the challenges. The white paper looks at how financial institutions can address the challenge of Creating the Future Network for the Digital Financial Institution.
The key messages in the paper revolve around three themes:
Institutions needs to embrace new SDN technologies that will enable them to orchestrate the network and increase automation
There will be an increasing move to the cloud, with a hybrid of both public and private cloud becoming more important
Open technologies will be advantageous to enable change as technology evolves
Juniper and BT are long standing partners with a history of addressing the challenges faced in the financial services industry. BT are world leaders in the provision of connectivity, unified communication and managed services. While Juniper provide networking solutions that are widely deployed by the biggest providers of both public and private networks.
At Juniper we have been investing in high performance networks that also embrace SDN in an open and multi-vendor approach so that customers are not locked in to silos of legacy technology. At Juniper, we have also been making significant investments in SDN, in particular our widely deployedContrail SDN controller. But this investment in technology is all aligned to the first key message from the Ovum white paper – increasing the level of automation in our customers’ networks.
In the video below Daniel Mayo (Chief Analyst, Financial Services Technology, Ovum), Tony Evans (Vice President, Global Financial Services, Juniper Networks) and Winston Carrera (CTO, Global Bank & Financial Markets) discuss the key findings from the white paper
If you would like to learn more about how to solve the network challenges facing financial institutions the white paper from Ovum can be found here.