07 Jun 2021

IDC Reveals Four Sources of Agile and DevOps Success for Asia/Pacific* Financial Services Institutions



SINGAPORE, June 8, 2021 – As organizations stabilize new virtual work conditions, the need to speed up delayed product delivery has become clear. The real value for the organization emerges when operational linkages are created between all aspects of agile, development, security, and IT operations. IDC Financial Insights Asia/Pacific’s latest report titled Four Practical Sources of Agile and DevOps (A.DO) Success for Asia/Pacific Financial Services Institutions (FSIs) underscores the need to focus on: momentum and speed, the human factor, cycles of improvement, and distributed innovation. FSIs that have derived the most value use small successive actions and standardized processes, with the necessary guardrails for maximum benefits.

“Most Asia/Pacific FSIs have had varying levels of success with A.DO. Several FSI leaders are still struggling with A.DO adoption, with incompatibilities among security, automation, and other A.DO tools. It is imperative to amplify and speed up A.DO practices as it is a journey of continuous improvement and learnings essential for long-term success,” says Michael Araneta, Associate Vice President at IDC Financial Insights Asia/Pacific.

Figure 1: Four Ares of Focus for A.DO Success

These four key areas – momentum and speed, the human factor, cycles of improvement, and distributed innovation – will provide key areas of focus for A.DO success. With the best practices and pragmatic steps highlighted in this report, organizations can be on track to realize tangible and long-lasting benefits on their A.DO journey.

“The most successful A.DO organizations are those that are driven by autonomous teams. This requires new lines of reporting and different people leading the A.DO teams – ensuring processes, methods, and practices are as efficient and effective as possible; and seeking lasting cycles of Improvement for all processes and product iterations. This system must be done release by release, sprint by sprint, where continuous improvement maximizes the customer value,” adds Clay Miller, Senior Executive Advisor at IDC Financial Insights Asia/Pacific.

One of the most exciting new areas for FSIs is distributed innovation – quickly translating ideas or inventions into high-value product features. However, many organizations are still not incorporating innovation into their daily practices. The critical concepts of distributed innovation align perfectly with A.DO: innovative culture, value stream management, and iterative processes. If applied correctly, these principles will accelerate innovation and transform new leading-edge digital financial products.

This report provides insight and recommendations that you can apply to your digital journey. It is easy to think of A.DO as independent methodologies; however, they are not mutually exclusive. When linked together, it can realize the full advantages of a continuous delivery pipeline. For more information on this report, please contact Michael Araneta at maraneta@idc.com or Clay Miller at cmiller@idc.com. For media queries, please contact Tessa Rago at trago@idc.com or Alvin Afuang at aafuang@idc.com.

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About Financial Insights

IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC  and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.

Coverage

Regions Covered

Asia Pacific


Topics Covered

DevOps