Why is Kubernetes Important to Drive Secured Digital Transformation in FinTech?

As FinTechs drive digital transformation, delivering highly secure cloud and on-premise solutions with unlimited scalability is becoming critically important for them. Today, the FinTech world is adapting to cloud platforms, SDLCs, and various other web/app development models at pace in order to deliver innovative products, services, and customer experiences. Hence Containers—and specifically Kubernetes— have become the de-facto compute units of modern cloud-native applications to support evolving needs of FinTechs at speed and scale.

Containers are a form of operating system virtualization and the evolving container technology has great potential for FinTechs to modernize their operations and infrastructure while moving to cloud-native development and hybrid, multicloud computing environments. The concept of containerization and process isolation is actually decades old, but the emergence in 2014 of the open-source container orchestration system Kubernetes – originally designed by Google, accelerated the adoption of this technology.

Why do FinTechs need a container orchestration tool?

 

Container orchestration automates the provisioning, deployment, networking, scaling (up and down), health monitoring, and management of containers. It facilitates fast deployment, scaling, and networking of containers in any environment. Container orchestration tools on the other hand work as a framework to manage microservices and architecture at scale. Kubernetes emerged as the right container orchestration tool to support developer agility, modernization and operational efficiencies for FinTech businesses.

According to Gartner, more than 75% of global organizations will be running containerized applications in production by 2022, a huge jump from the mere 30% in 2019.

While there are many other popular container orchestration platforms like Docker and Mesos, Kubernetes is a clear winner and is equally entertained by large businesses focusing to have a DevOps approach with strong support from all of the major cloud vendors like Microsoft, AWS, Google, etc.
LF_Kubernetes

Top 8 Benefits of Kubernetes for FinTechs:

 

    1. Portability: The container-based orchestration environment provided by Kubernetes empowers FinTechs to create an executable package of software that is abstracted away from (not tied to or dependent upon) the host operating system, making it portable enough to run uniformly and consistently across any platform or cloud. This itself is a huge win if you remember the days of “my software works on Windows and not on Linux; it works in a test environment but not in production etc”..!!
    2. Agility: Kubernetes enables agility across the IT ecosystem and empowers creative teams of developers, platform operators, and security professionals to use agile or DevOps tools and processes for rapid application development and enhancement. Fintechs are now doing 500 new builds every month which is 20x more than average from 3 years back.
    3. Scalability: Kubernetes offers the freedom to scale the applications and underlying infrastructure resources up or down based on the contingent needs of the FinTechs. Run a large promotion for a week in no time, or send monthly statements once a month and then bring your IT infra and cost back to regular levels in no-time (or a couple of clicks or automatically?)
    4. Fault isolation: As each containerized application operates independently of others, the failure of one does not affect the continued operation of any other containers.