bankingciooutlook

How AIOPS can Help the Financial Industry Thrive

Banking CIO Outlook | Tuesday, March 29, 2022

Technology is now essential to the operation of financial firms, with many companies relying on it to provide critical services

Fremont, CA: Many financial firms are expanding their online product portfolio to boost online footprint and stay consistent with the clients' growing reliance on virtual banking. However, the financial sector is still lagging in using automation which will provide a competitive advantage.

Technology is now essential to the operation of financial firms, with many companies relying on it to provide critical services. As a result, system uptime is crucial to customer satisfaction and performance outcomes, and networks must get constantly checked. Modern IT architectures, on either hand, are fragmented, complex, and linked, with data that is too enormous for the human mind to comprehend.

 IT Operations Artificial Intelligence is currently available (AIOps). In AIOps technologies, artificial intelligence gets utilized to support SRE teams and DevOps professionals in analyzing complex IT stacks, recognizing – and even forecasting – occurrences, and delivering actionable insights on repairs. Let's see some of the ways AIOps might assist the finance sector:

Enhance the Customer Experience 

Consumers nowadays have little patience for delays, and also, the risks are especially high compared to personal finances. AIOps solutions help prevent customer-impacting downtime by quickly discovering and recognizing problems within a system and determining their root cause. As a result, service assurance enhances and mean time to remediation (MTTR) reduces, leading to satisfied customers.

Defend Against Cybercrime

AIOps can help organizations defend against cybercrime and its potentially severe financial effects, including collapsing stock prices, reputational damage, and legal action, in contrast to the known monetary losses. AIOps solutions monitor vulnerable systems around the clock, identifying suspicious behavior and performing defense actions to secure them. 

Unlock Time to Innovate

While SREs and DevOps groups should be producing innovative technology that delights customers while increasing profitability, most are reactive. Without the correct tools, teams can spend entire days combing through occurrences, putting out fires, and falling short of overall strategic goals. AIOps technologies save time by automating routine tasks, reducing noise, matching events, and boosting system visibility to enable cross-team collaboration.

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