Exclusive video: Capital One on embracing cloud and SaaS
Held at the QEII Centre in the heart of Westminster, our annual conference, FinTech LIVE London 2023, proved to be a disruptive learning and networking experience.
The two-day event gave leading lights from across the fintech industry an opportunity to showcase their latest strategies, projects and innovations, while attendees soaked up valuable insight and expertise.
Our final session on Stage 2 saw Michael Anyfantakis, Chief Architect & Head of Product, UK at Capital One, take part in a fireside conversation on the topic of embracing cloud and SaaS in banking technology architecture.
Why move to the cloud?
Speaking to Neil Perry, our Stage 2 host, Anyfantakis began by reflecting on the reasons for banks moving over to the cloud.
"This is a discussion that has been going on for the last decade, ever since cloud concepts with Amazon and AWS, and then Google and Microsoft," he said.
"Everybody started to debate as to whether banks and the rest of the industry should start to use more of those cloud services. Initially, for quite a few years, it was much more about moving out of the data centres that the banks had, moving out of mainframes into more distributed-type technology.
"A lot of that was interpreted into this 'private cloud' term, which was basically just shared infrastructure offered by some of those technology providers."
However, Anyfantakis went on to explain that the picture has changed dramatically during the era of disruption.
"This evolved significantly with the rise of fintechs into much more of an ability to use public cloud," he continue. "So, banks being ale to deploy a lot of their core services onto AWS, Microsoft Azure and GCP using, effectively, the public cloud.
"That became much more powerful because, by doing that, you also take advantage of a lot of the additional services that are in the cloud.
"So, it switched from moving for infrastructure reasons to much more moving because, as part of that, I'm changing the way I develop my technology to take advantage of all the services that are already there, and therefore accelerate the delivery that I'm doing."
To watch the session in full, simply follow the video link at the top of this story.
Want to see more from FinTech LIVE London 2023? Stay tuned to our website for more content, which will be coming your way very soon.
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