Ostia Solutions Blog

ostia blog main image: butterfly made from bank note

Following the completion of the Accenture Fintech Innovation Lab in Dublin 2016 we have a look at what is happening in Fintech from 5 different perspectives.

1. According to Citigroup approximately $19 Billion was invested into the fintech sector over the last year up from $1.8 Billion in 2011. Interesting to note that Stockholm based companies received 18 percent of all investments in fintech companies across Europe in 2014, and a recent Europe-wide fintech study by Tech.eu showed that Sweden

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Starting from a brief conversation in early November, we decided to test some new messaging we had been developing by entering into the competition to participate in the Accenture Fintech Innovation Lab Dublin 2016. We were very pleased with our entry as we were very easily able to complete all questions on the form; something which we would have found difficult in the past.

We were extremely pleased to get an email to tell us we had been selected for

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OstBlog digitalBank

Global investment in fintech ventures tripled to $12.21 bn in 2014 from $4.05 bn in 2013

In recent research that Accenture carried out they looked at how digital disruption has the potential to reduce the role and relevance of todays banking model and on the flip side the ability to enable it to be an essential service for all.

With their research, carried out in the Financial services industry and beyond, they came to the conclusion that there are three

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OstiaBlog fintech22

The concept of digital disruption within the Fintech world regularly addresses the issue of customer requirements not being satisfied fully if at all. This leads either to customer churn when apps delivered by banks and financial institutions don’t live up to expectation or simply millennials not even bothering to consider that bank or institution’s products.

This is an issue that must be dealt with, however, it misses another large target that should be dealt with as part of this disruption,

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ostiaBlog check

The Software Development Life Cycle (SDLC) is changing beyond all recognition. This has been driven by the increasing pressure on banks, insurance companies and other institutions to be digitally innovative and to deliver quicker. This is having a direct bearing on the SDLC.

In the past, the ‘test cycle’ was an essential part of any project normally taking place after development was considered complete and before handing over to the User Acceptance Testing (UAT) teams. The testing cycle would normally

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Following a few of our recent blogs we thought we would give an overview of two FS topics and a list of trends for 2016, all of which we will cover individually and in depth in future blogs.

  • Public private hybrid cloud discussion
  • How time to insight is driving big data business investment
  • Top 10 big data trends for financial services in 2016

The Chairman and CEO of JP Morgan Jamie Dimon said "There are hundreds of startups with a

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OstiaBlog banknote

Currently traditional banking is swamped with numerous competitive challenges, from competitors, some brand new, to others who have been around for a considerable time and are using the latest technologies.

Traditional banks see the disruptive changes that are taking place on the FS landscape and are adapting to their customers requirements faster, through innovation, whilst all the time meeting with the constant flow of regulations and still maintaining systems reliability.

All the major financial institutions consistently review their offering and

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Many traditional banks need to choose the digital direction that they are going in.

Some have forged ahead, as outlined in this piece below, while other banks continue to find many roadblocks in their path, many of which are placed by internal factors and others such as risk and compliance or regulatory driven change.



Accenture brought out a paper Banking 2020: Capturing emerging opportunities on capturing new opportunities in the banking industry.

The report suggests there are three key

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OstBlog fintech banking safe

Banks of all types around the world want to innovate and, in fact, they must innovate if they are to compete with the emerging online banks and various other threats to their business. Banks are showing this willingness to innovate by their interest in and support for the various Fintech companies and clusters that are emerging and supported through events like the Accenture Fintech Innovation Lab run in New York, London and Dublin.

So while the banks want to innovate,

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ostia blog fintech001

In this piece John Power (CEO - Ostia Solutions) comments on two recent articles and three infographics on developments in the Fintech sector.

A quote attributed to Bill Gates in 1997 where he had said, “We need banking but we don’t need banks.”

Is this not a little like saying we need software but we don’t need software companies? Ultimately whether the companies running any payments systems are called banks or software houses, structure and regulation is needed to

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Ostia Blog CashOrCard

On the one hand, business is being pushed to deliver a better customer experience responding to opportunities in weeks, and on the other hand, core IT is tasked with delivering a stable service 24/7 which can only be delivered in months (or more) because they must follow rigorous processes.

Ostia’s Portus product addresses this problem by creating simulations of what core IT provides, that are 100% functionally accurate, enabling the business to deliver to the timelines they need without effecting

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ost blog cogs1png

There are many examples of projects where the risks of failure were never seen up front and the project either didn’t deliver what it promised or didn’t deliver at all while still costing millions in the process. This has generally been a result of the traditional ‘waterfall’ method of delivering software projects.

In most of these projects, the first deliverables would not be expected for months or even years. Consider the amount of money that can be sunk during this

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ost blog toolsCode

There is a myth around the concept of Continuous Delivery that it simply involves buying lots of tools, making them all work together, the button gets pushed and off you go. However, the reality is a lot more complex.

There are many tools around to help automate the continuous integration, build and test process that is required for Continuous Delivery. The following are just a taster for the numerous tools available in this space:

  • CVS and/or SVN can be used
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ost blog 9-11-15 PeopleProcessTech

While the concept of Continuous Delivery is relatively straight forward, the actual delivery of it is by no means easy. It requires a total culture shift in an organization around how they prototype, develop, test and deliver software.

It means turning many processes on their head and undoing years of carefully slowing things down to ensure they are done correctly. In order to implement it, you must look at:

  • People
  • Process
  • Technology

and in that order. Implementing the technology first

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ostBlog AgileVsWF

There are a number of other approaches to software development, with the most common used, until the ‘agile age’, being the Waterfall method. The Waterfall method generally followed a very sequential path as follows:

  • Analyse the requirements
  • Plan how to deal with them
  • Design the solution
  • Build the solution.
  • Test the solution.
  • Deploy the solution.
  • Analyse the next set of requirements

One cycle through this process normally took months and sometimes years. Over this time, a lot of things can

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Writing on WhiteBoard

Continuous Delivery essentially does what it says on the tin…..by adopting a continuous delivery approach to your development, you choose when you wish to deliver apps to your customer. This really means that at all times, your application is ready to be delivered and installed by your customers.

In today’s fast moving world, customers expect incredibly reactive support for their apps, otherwise they will simply install a different app to achieve the same thing.

If there is a new feature

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blog Ost CI WhatIsIT

 Today’s app development projects aim to deliver applications to mobile devices including smart phones, tablets and the plethora of other mobile devices out there. These projects have a number of things in common including the following:

  • Massive investment must be put into the prototyping of the application or it will simply fail at the first hurdle.
  • The first version of the application must be delivered sometimes in weeks of its inception.
  • Updates to improve the application are expected sometimes daily
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