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Banking Transformation and Modernization
Season 3, Ep. 7
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Vaughn Vernon has a conversation with Alfredo Muñoz regarding the transformation and modernization within banks, why it's so urgently needed, and how efforts can be successful. Their discussion encompasses BIAN, Domain-Driven Design, Data Mesh, and why focusing on business capabilities as business, service, events, and data domains is critical. We address why banks are so resistant to change but why they must learn a new mindset in order to both survive and flourish in the age of cloud and digital banks. For example, a bank transaction that has 1,000 COBOL calls will never work in the cloud, nor will a transaction that makes 100 API calls. How can new technologies and approaches to software development help banks, insurance, airlines, telecom, and other industries that heavily rely on mainframe power successfully switch out of the old status quo?
Alfredo is an Enterprise Architect, and Banking Transformation Expert with more than 25 years of experience in large scale banking transformations in Europe, Asia and Latam, always involving first tier banks
He currently works in the Global Center of Excellence for Banking and Financial Market at IBM
During the past years he has developed the methodology for the modernization of corebanking systems, including the adoption cloud infrastructure in coexistence with legacy systems, the BIAN Industry Standards, the industrialization and standardization of the design and development processes and the use of low code development frameworks with the primary objective to deliver transformation at scale, as required for large Financial Institutions.
He has authored leading points of view, methods and assets on core systems transformation to Cloud.
https://www.fintechna.com/authors/alfredo-muñoz-ríos/
https://www.linkedin.com/in/alfredomunoz/
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9. Humanity and AI
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8. Made for the Cloud: Cell-based Architecture, Ballerina Language, and Choreo Platform
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6. From Sustainable Architecture to Domain-Driven Transformation
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5. AsyncAPI and Event-Driven Architecture
01:03:57Vaughn and Fran meander through the topics AsyncAPI and Event-Driven Architecture using Fran's "thinking out loud" style. They examine the motivation for AsyncAPI, which rescued a startup product team from prolific boilerplate infrastructure code. Every microservice they created suffered from enormous amounts of repeated code, which only got worse with frequent exponential growth of microservices. They discuss other areas such as inter-service shared AsyncAPI documents, versioned schema definitions, topic naming with blended message (e.g. command and event) names, topic versioning pros and cons, YAML vs KDL, add-on tools and templates, and how all these influence productivity.Fran is the founder of the AsyncAPI Initiative and also works as Director of Engineering at Postman. In his spare time, he enjoys practicing different sports and disciplines, especially those related to circus.
4. API Portfolios for Everyone
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3. AI That Actually Works (and With Ethics, Even!)
44:23Vaughn discusses generative AI with Cassidy Williams (@Cassidoo) regarding the SaaS AI product that she and her team have developed. They cover the challenges of generative AI that supports accuracy in content repurposing, such as: customers don't want content generated as a talk transcript with all images from the speaker's slide deck. Customers want the talk repurposed to contain the most salient points and related images that are suitable for, e.g., a blog post. What qualifies software as an AI, and what tools can help software engineers make the leap to AI application development? The two also discuss the good, the bad, and the ugly of ChatGPT, and how ethical companies can develop AI products with trustworthy ethics.Read our Contenda-generated blog post "Reactive DDD Modeling Uncertainty" and try Contenda for yourself at: https://contenda.co
2.5. Bonus: Author Anecdotes
09:40After saying "ciao for now," Greg spontaneously continued the discussion, going into more details about book authoring. This turned into an interesting conversation about book writing experiences, but off topic from the initial podcast. You may still find it fun and informative.
2. The CQRS and Event Sourcing Long Position
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