The Peak 10 Financial Services and IT Study:
Tackling the Digital Transformation

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"There is a massive transformation in flight [in our industry]…nearly half of our customers only go to a physical branch once a year and we expect that number to be closer to 70% very soon."

- Kim Hammonds, Group Chief Operating Officer at Deutsche Bank (CEO panel at Dreamforce 2016)

Webinar

Financial Services and IT Study: Tackling the Digital Transformation

Blog Post

Online banking on tablet computer

Cloud Adoption in Financial Services: Why Is Hybrid IT the Financial Industry’s Best Pathway to the Cloud?

Case Study

Clarity Services, a national credit reporting company, saw a 200% performance improvement with managed services

"We are an insurance company, we are not an IT company, and we want to do things as efficiently as possible and provide maximum value to our customers. We also have compliance issues to deal with. I would say we are cloud enabled, cloud curious. Cloud positive.”

– Director of IT at regional insurance provider

Current Technology Delivery Model (Production Workloads):

75%

In-house

39%

Colocation

33%

IaaS

"The [part] that takes up a bulk of time is in the cyber security realm. It's gotten a lot of focus in the last two years, there is no change today than 15 years ago, they've automated a lot of exploits, but at the end of the day it's having the ridged discipline to manage, and how quickly you can swarm an event and look for damage."

– Executive VP & CIO of US regional bank

Security Program Grading:

52%

of respondents grade their organization’s security program a

20%

of respondents grade their organization’s security program a

Case Study

Vantage Point, a growing national title insurance agency, Gains Competitive Edge with Compliant Cloud Solution

"Our challenge is moving to the cloud and our security going out the window. The government doesn't have a framework out there yet for security in the cloud – they present everything for a traditional environment – you can't have an inline sniffer in the cloud."

– Director of infrastructure at national investment bank

Top Concerns and obstacles for moving to the cloud:

82%

Security and Data Privacy

61%

Meeting Compliance Standards

58%

Loss of control of my data

"You have to maintain system availability (uptime metrics), indicator to the business side of the equation whether they should trust further responsibilities to your company. You need to be up and available 99% of the time. Second is you have to... for the delivery of services to the organization you have to be able to meet their needs for how they service the customer, be able to increase their sales to new or existing companies. Constant churn of enhancement, and how much of that you can push through the pipeline."

– Executive VP & CIO of US regional bank

Current Disaster Recovery plans:

96%

Have a documented disaster recovery plan

63%

Of those (96%) only test their plan once a year or less often

20%

Have experienced a disaster causing downtime in the last 3 years

Did you Know?

Most disasters are due to hardware failure or human error – not natural disasters

Blog Post

Lessons in Disaster Recovery from the Financial Services Industry

"You have to maintain system availability (uptime metrics). You need to be up and available 99% of the time. [Also], for the delivery of services to the organization, you have to be able to meet their needs for how they service the customer, be able to increase their sales to new or existing companies. [You need to keep up with the] constant churn of enhancement. How much of that you can push through the pipeline?"

– Executive VP & CIO of US Regional Bank

Regulatory Pressures on Valuable Resources:

20%

of IT budget dollars go towards fulfilling government mandates

55%

of bank IT executives believe their industry is too regulated

Did you Know?

Dodd Frank, SOX, PCI, GLBA are some of the top government regulations affecting this industry

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