September 28, 2016

Elaine Friedman: It's All about the Culture


Elaine Friedman, Head of Product Planning, Analysis and Strategic Support for Treasury Services at BNY Mellon, participated in a session on "DevOps - Continuous Delivery: Hype vs reality" at Sibos on September 28. Commenting on DevOps and Continuous Delivery Freidman says the time for characterizing the topic as hype has passed. Of much greater importance is the focus on bringing about the cultural changes within banking organizations that have to occur for the promise of Continuous Delivery/DevOps to be realized.

"We all know the benefits of Continuous Delivery/Dev Ops – faster deployments, better collaboration, improved processes and continuous feedback. Our industry needs faster time to market product development cycles, more nimbleness and flexibility in responding to an ever-changing regulatory environment, and a higher level of comfort dealing with clients' expectations when it comes to 24x7x'whatever Web enabled device they're carrying' access to data."

"By intensifying integration and collaboration across the IT and client service delivery aspects of our business, Continuous Delivery/Dev Ops can move organizations away from a waterfall model of product development toward a more agile development process that taps into client feedback to make continuous delivery a reality," Friedman says. "But making this all happen requires huge cultural changes — that's the challenge we face as an industry," explains Friedman.

Citing BNY Mellon's Chief Information Officer Suresh Kumar as a champion of the kind of cultural change needed to make the banking industry more responsive to client expectations, Friedman singled out the colocation of IT, operations and business team members at the company's new Innovation Centers as an illustration of the major initiatives being undertaken at BNY Mellon to facilitate the interaction and collaboration at the heart of Continuous Delivery/Dev Ops.  

"We're seeing the future with our IT and client service delivery teams leveraging our investment in our new NEXEN environment, developing minimally viable product and service improvements, and then leveraging client feedback to continuously enhance the improvements and integrate them into our service delivery infrastructure," adds Friedman. "We see this approach to product development as an indispensable way forward in this digital banking era."