Souvik Das, managing vice president of engineering and chief information officer at Capital One Auto Finance, shared his key technology imperatives with attendees at the 2014 Auto Finance Summit in Las Vegas.
Finance companies looking toward new technologies and mobile banking should have end-to-end monitoring in place to ensure that when failures happen, they can triage the process and respond as soon as possible, Das said.
Having a cloud in place should also be a priority, as well as customizing it for your company’s needs. If a company is a Monday-to-Friday, 9-to-5 business — increasingly a rarity — that is different than a company where consumers visit the website at all hours or across time zones, Das said, so each company will have to determine an acceptable downtime for its cloud.
Increasingly, the expectation is “four 9s” — 99.99% up-time. As far as the future, Das said it is hard to predict, but right now customers are researching loans online, and the next step will be enabling the entire loan process online and on mobile devices.
