Title

AWS re:Invent 2022 - How a financial company is evolving to a cloud operating model (PRT269)

Summary

Itaú Unibanco, the largest bank in Latin America, is undergoing a significant digital transformation, incorporating a cloud operating model as part of this change.
The cloud operating model is designed to fully leverage cloud computing's benefits, requiring changes in delivery and consumption of infrastructure.
Itaú has modernized approximately 45% of its workloads, aiming for 60% by the end of 2022, which would represent 90% of the workloads that need improvement.
The bank's cloud operating model includes full-stack teams, exploration of new revenue streams, rapid testing and learning, and a focus on technology as the core of all changes.
Itaú's cloud framework consists of business applications, tech products with internalized AWS products, enabled platforms, and Kamada Zero, an abstraction layer for critical workloads.
The bank has developed a marketplace called U Digital Store for internal consumption of cloud products and services, ensuring production readiness, quality, and cost control.
Itaú measures its success using DevOps metrics, comparing deployment frequency and quality against market benchmarks, with a significant portion of teams deploying daily.
The bank has a Cloud Center of Excellence with over 1,400 engineers and more than 600 AWS certifications, contributing to a significant increase in deployments and a reduction in incidents.

Itaú Unibanco's approach to cloud adoption emphasizes not just migration but modernization of workloads, which is crucial for staying competitive and enhancing customer experience.
The bank's cloud operating model is a cultural shift that involves reorganizing teams, processes, and technology to be more customer-centric and agile.
Itaú's internal marketplace and service catalog demonstrate a commitment to self-service and automation, which are key principles of cloud-native architectures.
The bank's focus on DevOps metrics and continuous improvement indicates a mature approach to software development and operational excellence.
Itaú's significant investment in AWS certifications for its engineers underscores the importance of cloud expertise in executing a successful digital transformation.
The bank's ability to rapidly adapt to regulatory changes and compliance requirements through cloud technologies showcases the agility and flexibility benefits of cloud computing.
Itaú's presentation at AWS re:Invent 2022 serves as a case study for other financial institutions considering a similar path to cloud adoption and digital transformation.