Why are businesses shifting to hosted desktop solutions?
Is moving your desktop infrastructure the proper approach for each business? in fact not, but an increasing number of firms are now realizing the advantages that Virtualisation Desktop Infrastructure (VDI) offers.
Leveraging the cloud so as to host your desktop infrastructure externally means freeing your business and employees from the shackles of the normal workstation approach. With VDI, storage, applications, and everything else that underpins the desktop experience is managed by a 3rd party vendor.
There’s always a danger that the expansion in VDI uptake is simply another example of companies jumping on the cloud bandwagon without having given it due thought, but in a lot of cases, the technology may be a perfect fit.
Businesses and their employees are increasingly demanding the pliability to figure wherever and whenever they have to, and VDI makes this possible. Whether you would like to figure from home, access files on the move or answer an unexpected development while on holiday, hosted desktop solutions offer you the tools you would like to figure remotely across mobile and desktop platforms.
Organizations are choosing the VDI approach quite ever before because the technology has improved markedly over the last few years. Cloud hosting your desktop infrastructure has seen criticism, and it's true that badly implemented VDI goes to cause a variety of headaches, but the technology is straightforward to understand if it's been implemented correctly.
When it's used properly, businesses can access their full range of tools via the cloud without disruption. Popular software like Microsoft Office, also as more bespoke tools can all be delivered virtually over a cloud network. What’s more, by deploying an equivalent OS to multiple users, the upgrade process is far simpler. Updates, patches, and new applications are often deployed centrally and can automatically be made available to all or any users of the virtual desktop infrastructure next time they log in.
Virtualization is additionally more viable for SMBs from a financial point-of-view.
VDI also offers disaster prevention and recovery benefits. Reliable cloud hosting companies can manage server failure without service being affected. Many providers will have safeguards in situ that catch up on server failures, enabling them to stay at full capacity even while resolving technical issues. Furthermore, businesses that outsource their desktop infrastructure generally utilize thin clients in situ of traditional PCs. also as offering a lower carbon footprint, thin clients haven't any moving parts, which reduces the likelihood of hardware failure.
Virtualization is additionally becoming more viable for SMBs from a financial point-of-view. the choice of using older hardware, the shortage of server maintenance costs, and therefore the subscription payment model all add up to form hosted desktops a price effective solution for the fashionable business.
With the number of advantages on offer, hosting your desktop in remote data centers is becoming increasingly common. Major players within the technology scene are starting to get on board, with the likes of Microsoft, Amazon, and IBM all offering desktop hosting solutions in some form. Whether or not these larger companies can deliver an equivalent level of dedicated service as bespoke cloud hosting companies remains to be seen, but it certainly raises awareness of VDI.
Increased awareness will surely be amid increased scrutiny, particularly over integration and security issues. IT infrastructure is extremely complex and configuring VDI solutions for optimal performance isn't an easy task. Businesses also will need to ask themselves if Desktop as a Service (DaaS) is true for them, or if they need their entire infrastructure outsourced. Alongside these questions, companies will get to feel secure hosting company data outside of on-premise servers.
There are a variety of worthwhile reasons to shift to VDI but like any cloud offering, users must remember that they're buying an unbroken service, not a one-off product. to urge the foremost out of your hosted desktop to confirm there are ongoing collaboration and consultation together with your provider to ensure an answer that's ready to meet your company’s needs both now and within the future.
Top 5 IT Predictions for Finance Sectors
The banking systems legacy
Financial technology systems, just like the banks they serve, are built over decades through an extended series of mergers and acquisitions. Already operating across a posh set of siloed departments and systems (core banking, payments, trading, etc) each merger or acquisition has leading to further systems being bolted on to make ever greater and more complex IT systems connected by a maze of spaghetti. Most large banks are now creaking at the seams, with more budget dedicated to supporting legacy systems than to innovation. Many banks have core banking systems the maximum amount as 40 years old, but these systems are so critical to their operation then heavily integrated into other systems that they need become near impossible to exchange. Doing so has been likened to trying to vary the engine on a jet airplane mid-flight.
This doesn't mean that there's no new banking technology available, or that new entrant banks aren’t basing their operations on the newest technology. Often making significant use of cloud technologies, challenger banks typically see their IT operations as a serious source of competitive advantage. At an equivalent time, most of the older retail banks are experimenting with newer technology in a number of their peripheral operations, but at their heart in their core systems they're still cursed with what they need – a minimum of for now.
Banking within the 21st century:
Technology within the financial sector has changed considerably over the last decade. Information technology systems post the dotcom boom (those who survived) evolved into systems that were intertwined with nearly all of the opposite IT Services utilized within each respective organization. This came with challenges and benefits post the outsource/offshore trend that amassed much confusion to everyone working inside the finance industry, also as for the regulators.
Virtualization was still in its infancy with complex infrastructures that were, and still within the majority, replicated in its entirety to a separate location for contingency purposes. Automation of technology was cumbersome and Application Service Providers (ASP) were rife, wrestling with coding for crude web presences including the continued efforts for centralization of IT Infrastructure made harder by the recent outsourcing trend.
What followed towards the top of the last decade were phases of cut and consolidation, that were inevitable post-2008 and therefore the financial crisis. information technology consulting it had been at this stage of technical evolution within the Finance sector that cloud technologies were truly realized. Starting with the simplest of services to untangle, outsourcing had started again but this point with an informed experienced head on the shoulders of the incumbent IT departments.
Today the Financial Market Place may be a very different landscape and cloud technologies are common amongst regulated and non-regulated industries. you'll have heard the phrase “Omnichannel Approach” on numerous occasions and if you haven’t, you will. during this age of digital transformation all business sectors are being affected, not just Finance. it's extremely important to possess a uniform approach across all aspects of technology and business.
To put this into context, the below statistics will represent themselves:
69% of consumers already use the web to shop for financial products – PWC
Mobile banking usage will exceed 1.75 Billion by 2019 representing 32% of the worldwide adult population – Juniper research
Nearly 50% of the world’s banks will disappear through the cracks opened by the digital disruption of the industry – BBVA Chairman and CEO Francisco Gonzalez
72% of millennials would be likely to bank with non-financial services companies with which they are doing business (like Google, Amazon), compared to 27% for those over 55 – Accenture
The digital transformation is upon us and each industry must change!
With the emergence of cloud technologies, the planet has never seen the constant turn of technology where we are today. even as other industries have changed over the past 5 years and if you're sufficiently old to recollect the Amazon and Borders struggle where Borders never saw the top coming by the new industry bookseller chomping at their heels. an equivalent is often said for several other industries where diversification and strategy go a miss.
However we do have the advantage of hindsight and this, armed with the knowledge and understanding of more data analysis ever available in our history, the Finance sectors can't only stay within the game but before the curve. There are 3 main focus points to make sure you stay before the curve:
1. Be customer-focused and achieve excellent customer service. We live within the “ME” generation and should accommodate the demanding needs of the youth of today, across whatever medium that's convenient to them. “The majority of Millennials would rather lose their sense of smell than their technology” – Newscred
2. Make the IT Strategy shift to accommodate point 1. the necessity to vary your roadmap of service delivery is important. don't think for one minute that the bulk of your clients will even devour the phone to you if they're unhappy, they're going to not and easily move to at least one of your competitors. “2/3 of contactless payments since October are through Apple Pay” – Tim Cook, CEO Apple
3. Data is the new currency during this digital age. Banks have amassed huge amounts of knowledge from their clients, use it. “The overwhelming majority of knowledge never gets used… Only 0.5 percent of all data is ever analyzed” – MIT Technology Review
So, this leads to some predictions for Financial Institutions and technology. we've compiled a “TOP 5” list of emerging trends that we believe are going to be seen over the subsequent 5 years.
1. Analytics Evolved
Big Data isn't a replacement concept and Financial institutions are using Big Data in one form or another via trading systems for years. Employ a knowledge Strategy to cultivate the unstructured information you've got already. There are many providers, cultivators, and providers of the technology and toolset which will be used. you'll of heard of IBM Watson, the synthetic intelligence computer that back in 2011 made the headlines by beating former “human” winners of the quiz show Jeopardy? This technology is now mainstream and available at a fraction of the value of developing anywhere near equivalent results – cloud-based!
2. App Delivery
Application delivery of your products and services is vital when your clients have used smart devices from the age of 12 years old. Technically speaking we are during a constant change of major IT Infrastructure, however, you ought to be embracing this alteration because it also will drive down your cost of ownership. Open source technology once shunned within regulated industries, is now a serious drive within any industry that needs enterprise IT. OpenStack has emerged onto the scene and has many benefits to your organization for the orchestration and management of resources. there's also a replacement way of thinking based around container technology (Docker) which in essence share one OS (and binaries) for application delivery without the vast amounts of virtual machines that might normally be required. This technology is in its infancy but is certainly one to observe for the near future. Fintech Connect – Cloud Banking NYC Seminar
Last week Andrew McLean and that I headed off to NYC for the Fintech Connect Cloud Banking Seminar with CloudFS.
The event began with a gap address from the Founder and director of Arthurs Legal – Arthur van der Wees, setting the scene and introducing the event. We then broke straight into the Keynote discussion on the viability of cloud within the banking sector and what's and isn’t possible from this attitude.
The panelists were heavyweights within the industry and included: Bank Leumi USA, Everbank, Cross River Bank, Wells Fargo, CLSA, Americas, and AppDirect. an active debate formed from the panelists and a typical theme was mentioned through the entire segment – Security and Regulation.
Key takeaways for the day were from James O`Neill discussing the various cloud models for the industry, heavily debated around trust for the Hybrid option of the cloud. A prominent view was that a lot of banks are using Hybrid already, which the most important risks are the service providers, alongside the increase of the Community Clouds that specifically service the Financial Services Industry.
Bob Savino, CTO of Moven Bank also entertained the audience with the rags to riches story of Moven, and therefore the complexity of maintaining so far with the compliance and security governance to remain relevant.
What then followed within the afternoon was a whirlwind of data provided by even more heavyweights within the industry. With speakers representing BONYM, IBM, ING Bank, the NIST, and therefore the CSA. Selling cloud to the board was a really interesting debate, particularly when discussing the general concept of Cloud. The CTO/CIO requiring help with this to justify spend was stated and also a replacement way of thinking was required to form this challenge easier. With the three-year typical cycle of hardware depreciation vs Outsource to the cloud being particularly popular, and banks still spending Capex on technology, this wasn't almost cost for IT Serviceability but also resilience and security.
The day ended on a high note with a summary by the chair on the time's discussion with a welcome drinks reception and networking opportunities for the subsequent hour.
The keynote was performed by Charaka Kithulegoda, CIO at Tangerine Bank with a summary of the way to address the transition from legacy to Cloud seamlessly with employing a “Cloud First” mentality and this was the theme for subsequent few discussions too, with most stating that one pain of glass approach for Cloud Service offerings may be a must.
In my keynote, I suggested that the increase of Compliant Clouds is upon us, also as multi-vendor participation. This year and therefore the next is going to be one among alliances and acquisitions within the Cloud arena.
Later within the day, more discussions opened on this subject then led into what the NIST is currently reviewing for the standardization of Cloud Services within the Financial Sector including potential ways of enforcing this.
Towards the latter part of the day some fun was had with selfies of the audience and organizers and a scurry of removal men for the show's sponsors. Overall the event was very enlightening on what the Financial Services sector is doing and taught us all tons of their thoughts on the cloud. the three main topics that were raised were very pertinent for the industry – Security, Resiliency, and Regulation. I anticipate more cloud banking within the future.
3. Industry Clouds
There is much debate around Public/Private and Hybrid clouds. Rarely you are doing hear any talk around industry clouds and therefore the massive benefits that they carry. Imagine a cloud-based system that's designed for the financial industry, has the IT Governance applied to the infrastructure that meets regulators requirements, data sovereignty laws, is resilient, and meets all of the checkpoints began by your administration. Bringing cost synergies of shared implementations of bespoke and expensive vendor infrastructure that's secure. information technology education
A cloud for your industry, designed by your industry specialists (with the regulator's input) that permits you to scale back your expensive staff base of unique skills to manage and secure the technical environment. also allowing you access to previously unavailable products and services that might have required an outsized CAPEX, we’re watching this as an opportunity within subsequent 5 years.
4. Fintech Involvement
Financial institutions have always been trusted with clients' money. We see another potential trend that has begun to emerge, financial institutions offering IT Services to accommodate the new currency, data. this can add up to research this business model, even as other industries (tech) have done so offering financial services. We also see financial institutions being more involved, from a speculator prospective investing in hi-growth tech startups. This too also is sensible to help and guide these new breed tech firms, courting them at an early stage of development.
5. DRaaS – Disaster Recovery as a Service
With the emergence of cloud technologies and providers also comes the reliance on governance from said providers. Disaster Recovery is mandatory for regulated financial firms and this may get ore important when outsourcing to cloud providers. Specialist Disaster Recovery/Business Continuity providers are going to be emerging into the marketplace with the knowledge and understanding of not just your technology but also your business. This service is in fact available today, however, with the added security vulnerabilities that go hand in hand with cloud provisioning, specialist providers will undoubtedly emerge.
As keen cloud watchers at Compare the Cloud, we monitor the extent of comment and debate on cloud in every technology and industry segment. cloud technology While the utilization of cloud within the financial services sector is increasing all the time, there's still relatively limited comment and debate on the cloud within banking. within the table below we highlight several people who are most outspoken on this subject within a previous couple of month