Episode 29 - IBM and Humio, Financial Services with Sean Almeida
June 29th, 2020
Register now for the Financial Services Roundtable, co-hosted by IBM and Humio on July 16.
Listen to the podcast: The Hoot - Episode 29 - IBM and Humio, Financial Services with Sean Almeida
Sean works with global companies in financial services to make their systems resilient and secure. As the Global Red Hat IBM Synergy Sales Leader, Sean leads a global team of CloudPaks sales leaders to bring the best of IBM, Red Hat, and IBM ecosystem partners like Huimo together to unlock the value of the hybrid cloud.
John and Sean discuss how Humio and IBM are working together to provide observability to companies of all sizes who are monitoring their self-hosted infrastructure, and those who have already made the move to hybrid, cloud native, and multicloud environments.
A lot of banks have more software developers than bankers. I think we are ready for the next leap in technology as we look at how machines and humans work together better.
IBM, Global Red Hat IBM Synergy Sales Leader
Sean shares his thoughts about the financial services industry, and how Humio and IBM are addressing digital transformation. Banks are moving from being located in a building to becoming an online service available from anywhere. They’ve had to focus on creating a branchless experience for customers.
“Today I deal with so many customers that don't even have a real estate presence. Everything they do is online -- their whole experience, the way they interact with customers. Everything is paperless, everything is branchless."
Of course, current world events have caused businesses to accelerate plans to reach more customers remotely through digital technologies. For financial services, the move to touchless has become important. And of course any business today is looking for ways to be more efficient. When talking about staying competitive, Sean brings up a surprising point about who banks see as their competition:
“I ask banks who they see as their true competition, and most of the time it's not a bank that they are worried about — it is a tech company. That's where the disruption is happening.”
Sean explains that financial services are making the move to the cloud to remain competitive. Barriers to being successful in the industry are falling away, because of the flexibility and availability of services to create a great customer experience. This requires new tools and new strategies, and together, IBM and Humio can provide those for customers.
The partnership with Humio is strategic because clients are moving from monitoring and APM and traditional tooling to observability. That platform shift requires a lot of new tooling, new platforms, new thinking. When you move from a monolithic to a microservice architecture, there is a huge explosion in the amount of microservices and containers — from a factor of one to a factor of a hundred. Here's where I'm very excited about what IBM and Humio offer.
Humio is able to provide a level of observability that traditional platforms struggle with. Being able to see what’s happening across self-hosted or SaaS platforms in one pane of glass is a strong differentiator. By making processes visible and making it easy to discover the root cause of issues, Humio reduces the mean time to resolution (MTTR) which can result in significant cost savings to the business.
"A typical resolution time I'm seeing for clients who use traditional monitoring tools is anywhere from a few hours to sometimes even a day or two. In today’s marketplace, you cannot afford to have your service down, because depending on the industry, that could cost you millions to even billions."
Of course, there are barriers to implementing new technology. That’s why it’s important to have a solution that is the least disruptive, and will plug into the enterprise and add immediate value.
Nobody has money sitting around to afford the other platforms out there. That's where Humio comes in — because of the smartness within the technology, it's able to provide that experience at a fraction of the cost. Gone are the times when clients have six months or a year to unlock value. That's where solutions like Humio are plug-and-play, and plug-and-see-the-return immediately.
As financial services prepare for the future, they need to stay ahead with the latest technology, and work with a business partner that has the expertise and experience to create an architecture that will meet future business use cases.
"When making platform decisions, look at who has use cases that can crop up in two or three years. Because a lot of times it's solving the unknown. Solving for the known as easy. Solving for the unknown is the most complex part of an architect's job."
As the conversation wraps up, Sean shares his advice about trying new things, even when a lot of times, new things can fail.
"It's not about not failing. Failure is good — but failing fast, learning from it, and then pivoting from it is what we're all about today."
Listen to the podcast to come away with a better understanding of the factors that influence the financial services industry today, and how Humio and IBM are working together to make these complex environments observable, so engineers are able to create customer experiences that are changing the face of banking around the world.
More from IBM:
IBM: AIOps Tools
IBM blog post: Driving a post-COVID-19 renaissance in financial services
More from Humio:
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