For example, Lloyds uses the Falcon fraud detection platform sold by FICO. Pearson says that the company thought it knew what it was spending on Falcon, but after implementing Apptio, saw that it was spending five times more than the bank suspected.
Lloyds is currently using Apptio on a project-by-project basis to assess the cost of single applications like Falcon at this early stage, but the aim is to get "that flowing cost transparency and asset cost control" as they become more comfortable with the tool.
"I want to get to a level where we have platform economics," Pearson explained. "Which means if someone in business wants to know the cost of introducing a new mortgage customer, we can give a drill down of every IT component related to that new mortgage."
Aside from initial cost savings of closing down unnecessary applications across its estate of 4,500 apps, Apptio can also become an effective dashboard for IT leadership to monitor its assets.
The IT department at Lloyds has historically been "good at fixing things" according to Pearson, but that now "I think service management needs to become a cognitive and analytics-led capability where you can predict things breaking and fix them with no fire to put out."
Lloyds has also been working with IBM to see if it can apply this data to the cognitive Watson platform to start getting predictive insights related to its IT assets. Lloyds signed a £1.3 billion cloud deal with the vendor back in June.
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