As an authorized Red Hat IT training company, we continue to share information and tips on Red Hat trainings and exams with our participants. The aim is to help our participants so that they can get to prepare for Red Hat trainings and exams in a better way. Fiona McNeill’s ‘‘For Emirates NBD, the path to open banking leadership starts in the cloud” will inspire you in the digital banking process.
"For Emirates NBD, the path to open banking leadership starts in the cloud
For banks that want to be leaders in digital banking by offering products and services that are available anywhere at any time, consider following these three tenets: Think like a digital business; and transition to the cloud. That’s what Emirates NBD, a leading banking group in the United Arab Emirates (UAE), has done. The bank put technology first, making a AED1 billion commitment to transform its operations, products, and services to become a digital bank with open banking capabilities. At the core is a distributed cloud platform that uses technology similar to that of cloud-native companies.
Emirates NBD has its sights on being a global digital leader that delivers first-to-market banking innovations. To get there, it has embarked on a digital transformation journey that centers on enhancing the capabilities of its end-to-end technology platforms including IT architecture, infrastructure, security and data. Key to the bank’s strategy was creating a technology environment that allowed for growth while still meeting the required standards of security and resiliency.
Flexibility + Collaboration = Speed
Banks face ongoing challenges to improve customer experience, rapidly create new products and services, and increase operational efficiency – all while managing costs and complying with regulatory requirements in an increasingly competitive market.
It can be difficult to apply continuous incremental improvements to traditional banking platforms. That is why banks are increasingly looking to modern, cloud-native infrastructure that can support open banking, API-driven business models. This better positions banks to integrate systems with external sources such as third parties and fintechs to access next-generation technologies, and to deliver digital, real-time products and services for current and future customers.
Emirates NBD worked with Red Hat to create an enterprise, distributed private cloud platform that would serve as the launchpad to offer customers more personalized, always-on digital banking services. And when the time is right for Emirates NBD, the platform has the flexibility to accommodate their future hybrid cloud model.
Their platform uses the Red Hat open banking solution, which combines Red Hat OpenShift Container Platform with data integration, API creation, and management capabilities . OpenShift helps run a continuous integration and delivery (CI/CD) pipeline that’s designed for ongoing improvement - supported by automated testing, compiling, and transfer of code and containers. Red Hat provides unified data integration, handles real-time data feeds, and makes the bank’s APIs available across internal systems, partners and other third parties, while helping mitigate security risks and protect sensitive data.
The bank’s shift to open banking supported by a cloud-native, microservices-based architecture has enabled it to externalize APIs that can then be used to offer new services like account updates via Amazon Alexa and WhatsApp banking - so customers can interact with the bank through chat to check account balances, request new checks, and perform many other services.
Built on open source and with access to cloud-native services, the platform also helps foster collaboration across the banking group’s internal teams. IT teams at the bank now have access to infrastructure, and other resources end-to-end for development through as-a-service model. Group-wide data storage and access are consolidated on the platform to enable real-time customer intelligence. And developers are able to provision and allocate resources in hours/days, rather than the months it previously took.
Emirates NBD’s work with Red Hat to build a distributed cloud platform as part of its open banking and digital transformation strategy illustrates why it was chosen as a winner in the 2019 Red Hat Innovation Awards. By combining Red Hat technologies with agile business practices, Emirates NBD can spend more time enhancing customer experiences and accelerating innovation."
Fiona McNeill ‘‘For Emirates NBD, the path to open banking leadership starts in the cloud” November 1, 2019
Check out the our innovative trainings for more information about the digital transformation process!
Set out on a thrilling digital adventure in South Africa, where chances abound in locations like Johannesburg, Cape Town, Durban, Pretoria, Bloemfontein, Port Elizabeth, and more. We've created our in-depth IT courses to provide you the information and abilities you'll need to succeed in the rapidly changing digital environment. Our knowledgeable professors lead you through immersive learning experiences that incorporate theory with real-world application in a variety of topics, including coding and web development, cybersecurity, data science, cloud computing, and more. Join our thriving tech community to collaborate on real-world projects and access a large network of business experts. Our adaptable learning choices, such as virtual classrooms and in-person sessions, make sure that you may pursue your tech education on your own terms whether you're based in the busy streets of Johannesburg, the scenic coastline of Cape Town, or any other city throughout the nation. With the help of our top-notch IT courses, you may realize your potential and pave the road for a prosperous career in South Africa's booming tech sector.