AT&T Tech Report Infographic

Healthcare IT:

The financial industry embraces intelligent infrastructure

 

Banks, insurers, and other financial services (FS) organizations are modernizing their networks to support their digital transformation. But many are uncertain of the right path to follow.

Five lessons from our research can help IT leaders at financial organizations steer network modernization in the right direction.

AT&T Finance Report Infographic
1

Modernize to stay competitive

Many industry IT executives doubt their networks can adequately support
new technologies, like AI and robotic process automation (RPA)—and may
not even support some existing technologies

Modernize to stay competitive

Less than 1 in 5 (19%) believe their network can reliably support AI and RPA use cases today

Nearly 6 in 10

(58%) believe their networks can
support data analytics use cases,
at best, “to some extent”

Modernize to stay competitive
Modernize to stay competitive
2

Address the strategy deficit

Many FS companies are undertaking network modernization
without a clear strategy

In 3 years, more than 6 in 10

respondents’ networks (63%)
will feature edge computing
capabilities, 6 in 10 (60%) will
feature cloud-based application
infrastructure, and more than
4 in 10 (42%) will feature SD-WAN

Address the strategy deficit
Address the strategy deficit

But nearly 5 in 10 (46%) have
yet to develop a clear strategy
to guide the transition; only
just over 1 in 10 (12%) state
categorically that they have one

Build a roadmap
3

Prepare for open architecture

FS IT leaders must make sure their networks enable participation
in open forms of innovation

More than 6 in 10

(64%) say the development
and use of external APIs will
be a major technology focus

Prepare for open architecture
Prepare for open architecture

Nearly 5 in 10

(47%) expect to rely largely
on open-source standards
for emerging technologies
in the future

But just 2 in 10 (22%) will
treat open architectures
as an investment priority
over the next 3 years

Embrace open architecture
4

Invest to be ready for growing
computing-power needs

IT leaders must be sure their networks can cope with the data- and
bandwidth-intensive technologies they are deploying

Invest to be ready
Invest to be ready

Nearly 7 in 10 executives (69%) expect demands on their network for computing power to continue expanding over the next 3 years. Nearly 3 in 10 (28%), however, expect no change to computing-power needs

Invest to be ready
Invest to be ready
5

Get the security balance right

FS IT leaders must address cybersecurity concerns without holding
back organizations’ network modernization programs

Cybersecurity concerns are seen as a barrier to modernization


by nearly 7 in 10

(67%) of FS IT leaders

Get the security balance right
Get the security balance right

SD-WAN can help by
centralizing security;
nearly half (48%) view
this as a chief benefit of
the technology