Thanks to edge computing, “the possibilities of the current centralized cloud model have increased and expanded, supporting the evolution and deployment of IoT devices and admitting innovative applications, thus offering a great evolution for digital businesses as a result,” adds Ignacio Velilla, Spain´s Managing Director of Equinix, a multinational specialized in internet connection and data centers.
Greater investment of resources
A basic deployment of edge computing consists of a device that generates information and that requires information from other sensors or devices to modify its behavior or make decisions. “For this reason, a nearby infrastructure where all this data is stored and processed is necessary. This way each device can immediately access not only its data, but all the rest, to take advantage of the information generated, ” Velilla explains.
For Díaz, it’s necessary that this process be linked to an investment of resources. “Companies need to have the best communications networks along with optimal points of presence to implement our architecture in order to process data in real time using the best algorithms and techniques of machine learning and artificial intelligence,” he explains .
This is something that the professor at the University of Castilla-La Mancha agrees with: “If we look at massive data processing, with its large number of transactions and use of more complex algorithms which are necessary for providing a better service with fast solutions and decision making in real time, it will require greater computing capacities and shorter response times, as well as greater flexibility. ”
The advantages of edge computing for banking
One of the basic capabilities that edge computing will offer banks is the ability to decentralize their computing model and reach their customer more directly. BBVA´s head of edge security believes that “by eliminating latencies and improving computing speed, we will be able to offer customized products, improve fraud detection systems and operate in financial markets in a decentralized manner, along with cost savings.”
BBVA, which in 2019 became the first financial institution in Spain to deploy 5G technology at its headquarters, has been working on building an edge computing platform for some time. “With the Ether platform we have the basis to successfully face the new challenges that edge computing brings us. These pillars are globality, reusability, automation, resilience, and embedded security,” says Díaz.
According to Díaz, these last few months have shown us the need to interact with customers wherever they are. For this reason, he believes that “we must take advantage of edge computing to reach our clients in a more agile and secure way, and be able to interact with them as if we were face to face in order to offer them customized solutions and products.
Agility and security are two key factors in this new technology, which are also requirements to successfully bringing that personalization to users. “Today we have a new service architecture that combined with our global network, brings us very close to our customers. Our applications are connected to globally distributed nodes that deliver content and process part of our services in an agile and secure manner, ” explains Díaz. Looking towards the future, he adds that “in the coming months we will evolve to a computing model based on edge computing which will facilitate the creation of innovative financial products. ”