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Vassil Avramov discusses TD Bank’s cloud implementation at OpenStack Conference

Risk Focus was featured in a keynote speech at the OpenStack Summit in Vancouver on May 21. The five-day summit includes in-depth technical discussions, hands-on workshops, and the full presence of almost every player in the OpenStack Ecosystem.

Vassil Avramov, Founder, President and CTO of Risk Focus co-delivered a keynote speech, entitled “Componentized Architecture and Cloud: The Importance of Partnership” with Graeme Peacock, VP Engineering at TD Bank Group.

The talk outlined the challenges and early implementation of the private cloud for a national bank, as well as the long-term trajectory of private and public clouds in the banking industry.

Engaging partners was critical to accomplish the sizeable task, said Peacock in the speech. “I think it’s crucial that we find like-minded individuals” who are “smart, deeply technical and very, very motivated.”

Risk Focus allowed TD to cut the length of delivery in half.  “A company like Risk Focus allowed us to shorten what would probably have been a two-year timeframe and deliver in one.”

According to Avramov, the central objectives for the implementation team included creating a componentized, open source and standards-based solution. However, the vast amount of integration points rendered implementation a serious challenge. Working with the bank and a variety of other technology partners, Risk Focus was able to deliver a working environment implementation in just four months. 

For TD, the shift to the private cloud means expending ongoing resources for training, implementation and support. Still, the bank estimates the long-term benefits overshadow the short-term costs as the industry slowly embraces cloud technologies in a more standardized fashion.

Peacock estimates that it will be another five to ten years before the industry is ready to embrace the public cloud as the premier data storage solution. 

“I think it won’t be until we reach that enlightenment phase, where people within the bank and across the industry, truly will be ready to move from private to public. But in five or ten years down the road, why would we have a datacenter?”

 

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