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Private and Open Data in Asia: A Regional Guide.
Industry research indicates that as much as 20% of IT costs can be removed through the decommissioning of legacy/redundant systems and the archiving of data. Typically, financial services organisations focus on delivering new solutions that drive revenue or reduce cost – but often, decommissioning of outdated, redundant, and sometimes obsolete systems is delayed or de-scoped when project budgets run out, resulting in old applications that are required to be retained to meet data retention legal requirements or because of misconceptions about the true cost and risks of maintaining obsolete applications.
The result is that financial services organisations constantly face significant challenges to manage and control their IT portfolio, with a large number of fragmented and overlapping solutions that lead to increasing complexity, maintenance, and support costs. The complex IT environment inhibits an organisation’s ability to innovate and deliver strategic change faster in a cost-restrained and competitive economy.
At ANZ Bank, our hypothesis is that an industrialised and repeatable decommissioning capability will overcome these difficulties. An intuitive, flexible, and configurable archiving solution, combined with a cost-effective big data platform, will provide easy access to data through standard data interface mechanisms. This will deliver substantial cost, risk, and complexity reduction benefits.
ANZ has adopted an innovative approach to drive continuous business and identification of business value opportunities using disruptive and new big data technologies. This model is supported by our ability to conduct experiments quickly to validate hypotheses. This helps us understand challenges early with integration of new and emerging technologies into our environment, and prove their business value before commencing a large scale delivery project.
Our project has now progressed to deliver the organisation’s first enterprise Hadoop platform, which will support use cases for warm data archiving, data offload, and operational analytics. This is an integral part of our integrated ecosystem of data and analytics platforms, and provides many opportunities to leverage Hadoop technology for other use cases in the future, based on business value opportunities.
Ken Medlock is an enterprise architect at the ANZ Banking Group and is leading ANZ Technology Simplification initiatives through data-driven complexity insights, development of solution rationalisation, and decommissioning strategies and frameworks. Ken has 20 years of IT experience in government, insurance, and financial services, with experience in architecting, developing, and implementing complex solutions.
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