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Corezoid 2017 Predictions: Cloud Processes Will Make Implementing Enterprise Technologies Easier Than Ever

VMblog Predictions 2017

Virtualization and Cloud executives share their predictions for 2017.  Read them in this 9th annual VMblog.com series exclusive.

Contributed by Alexander Vityaz, CEO, Corezoid

Cloud Processes Will Make Implementing Enterprise Technologies Easier Than Ever

1. Cloud-processing will truly spur API-based innovations to evolve into "processes" that businesses can utilize with plug-and-play ease. Currently, working with APIs includes a few basic challenges. Developers must create duplicate hard code for each programming language the API is available for. It's redundant work and strenuous to maintain. Also, different APIs work at different speeds, meaning that incorporating multiple APIs often requires solving myriad technical issues (requiring the creation of buffers and hard-coded logical binding in order to make disparate APIs synchronize).

This is where API-based processes - independent of any one programming language and simpler than an API to scale, copy, and change - are positioned to usher in a new era in how businesses implement IT solutions.

Each of these processes will leverage a business's digital core and cloud processing to add piecemeal tools and capabilities as needed. Gartner analysts have also explored the possibilities of this dawning technology and foreseen what they call an "algorithm economy," where businesses will purchase process solutions from a marketplace to quickly and easily gain needed IT solutions. In this way, cloud-based processes will be a major game changer, likely to accelerate the development and deployment of new technologies.

2. The coming year will also be particularly transformative for the banking industry. We'll continue to see more efficient and effective fintech cloud solutions enabled, ultimately leading to a major disruption of the traditional banking industry. The current ultra-fragmentation of this market - which includes over 30,000 banks globally - will begin to see consolidation as superior, universal IT solutions powered by cloud computing begin to proliferate.

Whereas today banks develop and manage their own IT solutions - leading to the production of around 30,000 redundant and middling-quality P2P money transfer services, 30,000 online banking portals, 30,000 mobile banking apps, etc. - cloud banking solutions featuring easy integration and global reach will replace the need for these parallel efforts at banks. This will effectively free banks from the obligation to act like IT companies and allow them to settle into roles as pure service companies with the focus on what they do best: handling the ins and outs of banking.

And, this shake up will not be driven by some yet-unknown startup, but by major solutions providers such as Visa and MasterCard. Already Visa and MasterCard offer ready-made solutions, and, importantly, they have also signaled their commitments to open APIs, which encourage other technology companies to develop and provide such solutions as well. The result will be a banking industry where customers use solutions backed by cloud-based processing, which will arrive as replacement services provided by Visa and MasterCard as standardized products.

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About the Author

Alexander Vityaz is the CEO of Corezoid, provider of the eponymous Platform-as-a-Service cloud process engine that enables companies to build agile business processes that are triggered by real-time events.  

Alexander Vityaz 

Published Wednesday, November 09, 2016 7:01 AM by David Marshall
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