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Financial Industry Trends: Cloud, Mobility, Security and Social Media

As I watch Larry Ryan, HP CTO for the financial industry, discuss various trends with Brad Schlagenhauf, marketing strategist, in this video from HP Discover, a couple of my related blog posts come to mind. While I talk about the manner in which Cloud Computing and Big Data are coming together, Larry makes pointed references to their application in the financial industry. Listening to Larry outline the trends also brings home the point I make about the synergies that can be realized across Cloud, Big data and Analytics within various industries.

 

Here are some of my takeaways from watching the video:

 

  • The concept of working with external service vendors is not alien to the financial industry. Core banking services have been run external to the enterprise -- especially when it comes to small banks. HP runs a banking service center that serves the needs of small banks in Switzerland.
  • Security is a very serious problem for the financial sector. Larry echoes the concerns expressed by the CEO of the SWIFT network -- the backbone of financial transactions across the globe.
  • Larry characterizes mobility as the way services are delivered complementing the supporting infrastructure in the cloud.

Last but not least is the social media trend. If you compare SoMe sites to countries:

 

  • Which one do you think is the third largest ‘country’ in the world?
  • Or, which one is larger than the United States?

Watch Larry talk about the impact of social media.

 

 

What are the trends that you see impacting the financial industry? Are there other industries that are impacted by these same trends? Have you thought about the airline industry?

 

Please let me know what you think?

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