With anywhere, anytime, any device banking driving the financial sector, DevOps can help players innovate and adapt faster to changing customers’ needs
In traditional software delivery, ‘Shift Left’ is a practice that allows developers to detect and prevent defects early in the delivery process. The goal is to improve quality by failing fast and recovering quickly, completing and moving tasks to the left at the earliest possible time within the life cycle. With modern businesses transforming at the speed of markets, DevOps has become an increasingly common approach in software delivery, helming the charge of a ‘perpetual Shift Left’. Almost every industry leveraging technology today is turning to DevOps to roll out the best quality products with phenomenal lead times, while increasing the agility and efficiency of digital reinvention.
More so in times of ‘black swan’ events that create disproportionate stress on businesses that fail to adapt to new realities with resilience or create new opportunities in times of crisis. During the 2020 COVID-19 pandemic, the banking industry in India is at a similar point of reinvention with DevOps, where the need to facilitate higher productivity and agility is near real-time.
CONVENTION TO CONVENIENCE TO COMPULSORY, AND CRUCIAL
The Indian banking sector and financial technology 32 www.dqindia.com sector in particular, have come a long way within a short time. Moving on from conventional forms of banking, the nation has received a significant push towards convenience in banking with increasing digital adoption and mobility.
Consumers as well as businesses today, expect to carry out banking operations from anywhere, at any time – using the device of their choice. They are commanding personalized support and innovative software, while transforming the way they are serviced. From ‘Digital India’ to ‘cashless India’ the government’s push towards financial inclusion has also now made it commonplace to use e-wallets, BHIM, debit/credit card or UPI-based payment services.
During the 2020 pandemic, the banking sector has also come under a lot of pressure with liquidity pressures, fundamentally altering operating models, optimizing costs, augmenting cash flows and mapping risks. Helping themselves along with associated businesses and consumers, banks that were already under pressure for operating margins, are now facing aggravating costs in the aftermath of COVID-19. To ease the following of social restrictions after lockdowns, RBI even issued the allowance of Aadhar based video-KYC authentication,