Digitalization of Financial Services in the Age of Cloud

Digitalization of Financial Services in the Age of Cloud

by Jamil Mina, Armin Warda, Rafael Marins, Russ Miles
Released May 2023
Publisher(s): O'Reilly Media, Inc.
ISBN: 9781098136277

Read it now on the O’Reilly learning platform with a 10-day free trial.

O’Reilly members get unlimited access to books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Buy on Amazon Buy on ebooks.com
Start your free trial

Book description

If you're planning, building, or implementing a cloud strategy that supports digitalization for your financial services business, this invaluable guide clearly sets out the crucial factors and questions to consider first. With it, you'll learn how to avoid the costly and time-consuming pitfalls and disappointments of cloud adoption and take full advantage of the cloud operational model. You'll discover cloud tactics that unlock the benefits of digitalization and how to create a cloud strategy that has the flexibility to streamline operations, integrate channels, and encourage innovation in your firm.

Packed with invaluable advice and real-world case studies, this book will show you how to:

  • Select the right operational models for your needs
  • Build resilience into your company's technologies
  • Assess the trade-offs of third-party digital native services versus developing them in-house
  • Ensure operability across cloud services providers
  • Balance innovation and accountability
  • Deal with digitalization issues of particular importance in finance, such as governance, security, and regulatory compliance
  • And more

Publisher resources

View/Submit Errata

Table of contents

  1. Preface
    1. Why We Wrote This Book
    2. How to Use (or Navigate) This Book
    3. Supplemental Material
    4. O’Reilly Online Learning
    5. How to Contact Us
    6. Acknowledgments
      1. Jamil Mina
      2. Armin Warda
      3. Rafael Marins
      4. Russ Miles
  2. I. Digitalization and Cloud Strategy
  3. 1. Strategy and Digitalization
    1. What Is Strategy?
    2. The Purpose of Digitalization
    3. Cloud Adoption Disillusionment
    4. Digitalization Versus Digitization (and Cloudification)
    5. Digitalization, Strategy, and Cloud
    6. Getting Started: Parts of a Digitalization Strategy
  4. 2. Starting with the End in Mind
    1. Show Me the Return on Investment (ROI)!
    2. Value Chains and Business Perspectives
    3. Value Chain Capabilities Through the Lens of ROI
    4. Gathering the Right Perspectives
    5. Establish Your Strategy Quickly, Reevaluate Continuously
    6. Collecting the Parts of Your Digitalization Strategy
  5. II. Financial Services Digitalization in Context: Landscape and Climate
  6. 3. Mapping the Landscape
    1. Mapping the Situation
    2. What Is a Wardley Map?
    3. Your Anchor and Your System Components
    4. The Value Chain Axis
    5. From Uncharted to Industrialized
    6. Exploring Your Value Chain
  7. 4. Climatic Patterns in Financial Services
    1. Climatic Pattern 1: Financial Services, Everywhere
      1. Trust and Risk Distribution
      2. Diverse Products, Globally Accessible: Embedded Finance
      3. “X, Everywhere” Is a General Climatic Pattern
    2. Climatic Pattern 2: No Business Is an Island
    3. Climatic Pattern 3: Lower Technology Barriers to Entry
    4. Climatic Pattern 4: Emphasis on Speed, Scale, and Agility
    5. Climatic Pattern 5: Sustainability Matters
    6. Climatic Patterns Change
  8. III. Strategic Digitalization Doctrine
  9. 5. Building Your Digitalization Roadmap
    1. The “Everything, Everywhere, All at Once!” Anti-Pattern
    2. Iterative and Incremental with Experiments
    3. Building Your Digitalization Experiment Backlog
    4. Learning from Experiments
      1. The Importance of Stories
      2. Lessons Learned from “Learning from Incidents”
    5. Continuously Reevaluating Your Strategy and Roadmap
    6. Introducing Experiment Templates
  10. 6. Architecture and Governance
    1. Exploring the Structure That Supports, or Hinders, Your Value Chains
    2. Modularity and Cohesion Matter
      1. What Does Good Modularity Look and Feel Like?
      2. Modules in Action: Services, Applications, Bounded Contexts, and Platforms
    3. Architectural Styles in Financial Services
    4. Evolving Architecture: The “Impossible” Job
      1. Residuality Starts with the Naive
      2. What Survives?
      3. There Can Be Only One: What Survives, Wins
    5. Governing the Ungovernable
      1. The Parable of the Ignored (Cloud) Architects
      2. Making the Architecture Unignorable by Making Production Unignorable
      3. Governance: Proactive, Continuous, Chaos Engineering
      4. Evolving Governance
    6. Architecture and Governance Experiment Templates
      1. Experiment Template: Cloud Variants
      2. Experiment Template: Cloud Native
      3. Experiment Template: Wrap and Retire Legacy Platforms with APIs
  11. 7. People, Process, and Organizational Structure
    1. The Hidden Life of Teams
      1. Production Is (Not) the Problem
      2. The Problem of Hierarchical Organization Chart Thinking
      3. From Project to Product
      4. Why Teams?
    2. Establishing and Evolving Your Teams
      1. Team Topologies: Teams and Interaction Styles
      2. Wardley Mapping: Explorers, Villagers, and Town Planners
      3. Governance for Teams
    3. People, Process, and Organizational Structure Experiment Templates
      1. Experiment Template: Open Collaboration
      2. Experiment Template: Explore Continuous Delivery
      3. Experiment Template: Configuration and Infrastructure as Code
  12. 8. Operational Models
    1. DevOps
    2. Focus on Flow and Feedback Loops
      1. You Build It, You Run It…You Go to Jail?!
      2. Segregation Doesn’t Mean Zero Collaboration
    3. Operational Models Experiment Templates
      1. Experiment Template: Surface Everything with Observability
      2. Experiment Template: Site Reliability Engineering
      3. Experiment Template: FinOps
  13. 9. Exploring Paths, Destination Unknown
    1. Can You Stop (and Still Have Gained Value)?
    2. Stop When Done, for Risk, or for Change
    3. Optimize for (Frequent) Learning
    4. Tying the Room Together
    5. Continuous Digitalization
  14. Index
  15. About the Authors

Product information

  • Title: Digitalization of Financial Services in the Age of Cloud
  • Author(s): Jamil Mina, Armin Warda, Rafael Marins, Russ Miles
  • Release date: May 2023
  • Publisher(s): O'Reilly Media, Inc.
  • ISBN: 9781098136277