Banking Frontiers organised an unconference on infrastructure and digital transformation in the BFSI industry, with Nutanix as the Knowledge Partner. Highlights of the discussions:
Jitendra Jadhwani, Head – Business Transformation & Technology, Tata Motors Finance
Infrastructure is one the biggest challenge for the BFSI industry, and cloud solutions will be a boon for the industry. Compliance is the area of concern for us, and we are looking to adopt Indian compliance solutions which are built as per the Indian law. That will provide end-to-end solution to us and will be the simplest way forward. Tata Motors Finance is fighting with infrastructure issues of multiple clouds. Compatibility of the hardware with multiple cloud is a challenge for us. When problems arise, CIOs and CTOs get sandwiched between the service providers.
Industry needs to focus on the solutions like hardware independent delivery enterprise (HIDE), which will help CIO and CTO in server sizing, security and bandwidth related issues. The service provider will be fully responsible for delivering the solution invisible to the enterprise. The service provider will manage what he can manage across the globe and the company must give security for it. HIDE will become the way of life in the coming years ahead.
Infrastructure solution will help us to understand what is going wrong in the transactions. The appropriate solution will help overcome the challenge, so the last user doesn’t suffer any problem due to it. The role of infrastructure is to serve the human needs. Hyper convergence is the alternate to the self-healing application that can take care of many glitches that are happening today. We believe in hyper convergence as one stop solution, which all CIOs and CTOs can use for dealing with the infrastructure nightmares.
Jaysheel Gandhi, Chief Digital Officer, DHFL
Security and siloed data are the top challenges in the BFSI sector. BFSI companies are today focusing on multi-private cloud platforms. We are storing all the data in our infrastructure. Every app has its own data set and companies are finding challenges in consolidating the data set and putting it to productive use. Every application has its own priority and way of putting, storing and securing data. Getting the data for business productive use is challenge for us. Every data centre is becoming software driven and intelligent – this helps us to scale up and scale down.
In India, manpower is not so expensive, but neither is it cheap. The overall cost saving is not more than 10%, so the objective is to rescale and upscale these people to handle new way of working the infrastructure. In our viewpoint, routers and servers will be replaced by consoles. People will do the shell scripting, to create more virtual machines as and when required. Standardization is the biggest challenge that companies are facing. Simplification is the most important parameter – all the elements of IT should have a common vision. Whenever we embark the digital journey, IT, infrastructure and security team plays a vital role.
Sughosh Nagendra, Chief Technology Officer, RBL Bank
CSR in BFSI industry means Compliance, Security and Risk. The need of specialist is going to be vanished in the coming years and there will be no specialists with skillsets of compute, storage, network, switching, routing and fireball. Convincing the CFO is the most difficult job we are facing today. The companies need Application Infrastructure Performance and Management (AIPM) strategy. There is need for one app supported by highly supportive infrastructure to measure lifestyle of the customers.
K Suresh, SVP -IT, Tata AIG General Insurance
There is a need for converged infrastructure. The roles of the regulators are changing fast. Products are providing extra services. There are policies that are sold through devices. We need to do lot of the analytics with the data. Sending message to customers at the appropriate time is the biggest challenge for us. We are in the process of revamping our infrastructure. For motor insurance, we are in the process of introducing pay per use, where we will install a device in customer’s car that will help us to measure how many kilometres customer has driven the car, and when he has parked the car. It will help us to understand user pattern of the driver, based on which we do analytics to measure the customers insurance premium. Profiling of the driver is also a challenge for us. Finally, there is a need for faster infrastructure, to provide better services to the customers.
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