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Industrializing Financial Services with DevOps
Industrializing Financial Services with DevOps

Industrializing Financial Services with DevOps: Proven 360° DevOps operating model practices for enabling a multi-speed bank

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Industrializing Financial Services with DevOps

The Banking Context and DevOps Value Proposition

This chapter starts by introducing the main actor of the book, which is an incumbent bank, and defines its key characteristics. The internal and external environments of the bank will be discussed, aiming to present a detailed overview of its key external and internal context determinants in relation to DevOps. Continuing, the book’s tailor-made DevOps definition is presented and mapped to the DevOps value proposed for banking, using a mobile banking application as an example. The rest of the chapter focuses on introducing two important concepts and perspectives that are at the core of adopting DevOps at scale in a banking context. Starting with the concept of relevance, we discuss why context and situation are key parameters for consideration. In concluding the chapter, we discuss why enterprise DevOps adoptions should cater to a 360° perspective through the enablement of four qualities.

In this chapter, we’re going to cover the following main topics:

  • The main actor of the book, and its characteristics and ecosystem
  • Examining the incumbent’s external and internal context at a glance
  • Defining DevOps and its value proposition for banking
  • What is the importance of adopting DevOps at relevance?
  • Why take a 360° perspective when adopting DevOps?

Introducing the main actor of the book

Starting this book, it is important to introduce our main actor. Understanding who is the subject of focus at this early stage is important so you are in a better position to understand our actor’s nature and context, as well as how DevOps as a concept is related. This chapter introduces and outlines the characteristics of the main actor, but also makes reference to other actors that operate in the same industry and ecosystem and have a role to play in the book.

Our main actor is an incumbent bank, representing a sample of global and regional incumbent banks. The incumbent bank in focus is a large institution, well established in the financial services industry, which has the objective of advancing its DevOps adoption on an enterprise level, as part of implementing its new corporate and technology strategy.

Our incumbent is characterized by the following specifications:

  • It runs global operations in multiple regions of the world.
  • It offers a rich variety of products and services across the banking, payments, and capital markets, asset and wealth management, and the insurance and pension domains.
  • It is of regional and global systemic importance.
  • It is exposed to different macroeconomic conditions and customer behaviors in the different markets in which it operates.
  • Its market share position varies per operating market.
  • It has a long history in the industry and is a result of several mergers and acquisitions.
  • It historically started to adopt DevOps in several of its units but has not attempted enterprise and at-scale adoption before.

The largest world banks you can think of are represented by our incumbent.

Bonus Information

As a global, systemically important financial services institution, we’ve defined a bank whose failure could result in triggering a global financial crisis. There were 30 such banks in total across the globe in 2021, which we also refer to as too big to fail. Being systemically important indicates that as an institution, you are subject to higher supervisory expectations by the Financial Stability Board.

The incumbent bank operates in the same ecosystem and markets as challenger banks, neobanks, as well as banking infrastructure providers. The challenger banks, neo banks, and banking infrastructure providers are relatively new entrants in the financial services industry, with the following characteristics:

  • Challenger banks: New, fully digital, online and mobile banks, without a physical presence, that offer banking products and services under a banking license. Revolut, Monzo, N26, and Lunar belong to this category.
  • Neobanks: New, fully digital, online and mobile banks, without a physical presence, that offer limited banking products and services compared to incumbents and challengers without a banking license. Yolt and Chime belong to this category.
  • Banking infrastructure and platform providers: These are companies that offer financial infrastructure services through platform integration to both incumbents and challenger banks. Mambu, Banking Circle, Klarna, and Nets belong to this category.

Our incumbent bank’s has relationship to challenger banks and neo banks is characterized by competition, while its relationship with banking infrastructure and platform providers, in most scenarios, is that of a service consumer.

It is important to make reference to another category that is closely related to our incumbent bank – beta banks. These are subsidiaries of incumbents operating under the banking license of the parent bank, or by using licenses of partner banks in specific countries. The business case behind those banks is the fast launch, experimentation, and expansion of new services and products to either existing or new markets. Mettle by NatWest and BforBank by Crédit Agricole are two examples.

Speaking of terminology, it is important to clarify an approach taken in this book. We will refrain from using the term FinTech to identify new entrants in the industry, as we perceive the term FinTech as standing for Financial Technology, which is equally used both by incumbents and new entrants.

Examining the incumbent’s external and internal context at a glance

When understanding the conditions and circumstances under which the incumbent operates, it is important to examine the financial services industry’s external and internal environments, seen from the perspective of our main actor. Getting this contextual understanding will serve as a fundamental awareness element for the rest of the book, especially when relating the industry’s context with that of DevOps. Context is of vital importance in adopting DevOps, as we will also see later in the book, and the financial services context is indeed evolving at a very dynamic pace.

What does an incumbent bank’s external context look like?

The term external context is used to refer to the external environment within which the bank operates. As our bank operates in global markets, we are taking a global average and as representative as possible a snapshot, while of course, we remain conscious that factors such as specific regions, countries, market conditions, regulatory frameworks, and economic factors force our bank to be faced in its reality with more dynamic and versatile circumstances and conditions than our snapshot presents.

As this is not an economics book, we will refrain from discussing economic concepts such as interest rates, inflation, gross domestic product, and industrial production indexes when examining the external environment. We will exclusively focus on the external environmental factors that do have a direct and/or indirect relation to how our incumbent’s DevOps enterprise adoption will be designed and will evolve.

Regulatory focus due to the 2008 financial crisis

Let’s attempt a flashback and go back to the years after 2008 and the global financial crisis. The aftermath of the crisis for large incumbent banks was characterized by waves of heavy regulatory requirements (Basel, EMIR, MiFID, Dodd-Frank, PSD, SCI, and T2S, to mention a few), which were complemented by extremely rigorous audit assessments, especially for globally systemically important institutions. Those audit assessments, apart from traditionally assessing the compliance and maturity levels of business operations, activities, and resiliency, were complemented by a significant focus on IT infrastructure and the related service domain. Technology operations and IT risk management came into strong focus with the supervisory authorities somewhere around 2015. By coincidence, around that time was the period that DevOps started to be known as a concept in the industry.

Licenses to operate came at risk, and capital was set aside to cover potential fines due to foreseeable challenges in complying with legislation on time. Inevitably, that situation forced incumbent banks to deploy significant amounts of their capital and resources to regulatory work, while in parallel they were struggling with profitability due to the volatile macroeconomic conditions of that period. Digital innovation agendas were compromised or put on hold for some time.

Obviously, the circumstances did not totally hold incumbents back from innovating during those years. Some indeed took advantage of the regulatory demand and capital set aside for those purposes to promote their digital innovation agendas, which was an intelligent tactic indeed. To some extent, it was also inevitable to not invest in new technologies, in order to close old audit remarks, as new regulations could not be met with legacy applications, infrastructure, and tools. Therefore, deploying innovative technologies to effectively respond to the continuously evolving regulatory environment, in certain cases, was the only sustainable way. Nevertheless, despite the creative mindset and approaches of several incumbent banks, their digital innovation plans were jeopardized, or at least slowed down.

Technology industrialized rapidly in the meantime

That turbulent period for the industry was at the same time a period of rapid advancement for technological utilities and concepts globally. Technologies such as APIs, cloud services, machine learning, artificial intelligence, and data analytics were proliferating and maturing, while concepts such as enterprise agility, DevOps, and SRE created new means and enablers for digital innovation and new ways of working (WoW) in the industry. Digital services have become mainstream in recent years, hybrid cloud has become the dominant infrastructure model, cyber security is evolving on top of the risk factors agenda, regulators are becoming more tech-savvy, the challenger banks’ business model delivers, and investment in digital customer journeys and intelligence has become one of the top profitability sources. The adaptation of such technologies and concepts challenges the traditional technology operating models of incumbents, requiring a generous shift toward modern WoW and advanced engineering capabilities. Concepts that the industry used to call “another nice thing to have” have become “another necessary capability we need to build.”

In recent years, and after that decade of global economic volatility and high focus on responding to regulatory demand, incumbents have entered an era of financial growth, characterized by increased profitability, which, in combination with technological advancements, allows capital and resources to be strategically deployed on digital innovation, materializing what some in the industry call the long-awaited transformation. Technology has started not only to be considered a key business enabler but the business itself.

Which are the forces that shape the financial services industry?

On providing a more detailed and rounded picture of the incumbent’s external environment, Porter’s Five Forces model is used to identify and analyze the industry’s main five competitive forces and reveal its respective strengths and weaknesses. The results of this method can be used by companies to support the evolution of their corporate strategy, which influences their technology strategy and consequently their DevOps adoption, as we will discuss in the next chapter.

A representative Five Forces analysis of our incumbent bank is presented as follows:

  • Bargaining power of customers – Pressure level: Moderate: This force is very much client segment dependent, as well as operating markets and business domain related. A small daily banking client holding a bank account with a deposit of 1,000 euros has close to zero purchasing power if they decide to move to another bank. In contrast, a wealthy private or corporate banking client with a diversified portfolio of assets with a value of 500 million euros has significant purchasing power, as they could cause financial and reputational loss. The former is the one who is most likely to leave our incumbent for a challenger or neobank and the latter to another incumbent.
  • Bargaining power of suppliers – Pressure level: Moderate: The two major suppliers of an incumbent bank are capital and people. The ability of the bank to compete in its markets, generate strong revenue, and maintain a high credit score rating, as well as meeting its return of equity and cost/income ratio targets, can attract clients and investors. Nevertheless, even though incumbents have returned to strong profitability, presently corporate investors’ interest in expanding their investments beyond incumbents toward challengers through funding rounds is increasing. On the people side, technological advancements, people skill scarcity in the market, talent competition, as well as the new flexible working conditions brought about by the Covid pandemic increase the challenge of maintaining and hiring talented people, primarily in technological domains. In addition, challengers and neobanks look appealing in the eyes of young talent, due to better career prospects through the usage of the latest technologies.
  • Competition from industry rivals – Pressure level: High: The industry is traditionally very competitive, driven by aggressive profitability targets and ratios, backed by a digitalization time-to-market race for new products and services. The relatively low cost of switching from one incumbent to another or from an incumbent to a challenger intensifies an already competitive landscape. This rivalry, though, apart from bringing competition, also generates opportunities for joint ventures. The motto if you can’t beat them, join them is becoming part of corporate strategies across the industry and domain-specific ecosystems, through increased merger and acquisition (M&A) activities, vertical integrations, and FinTech incubation hubs. Banco Santander is a great example of an incumbent that is very active in pursuing joint ventures.
  • Threat of substitute products and services – Pressure level: High: The incumbent’s monopoly is undoubtedly in decline. The industry is threatened by substitutions arising from the proliferation of new players within its ecosystem (challengers, neobanks, and infrastructure providers), as well as technological giants such as Google and Apple (in association with incumbents such as Goldman Sachs) that have entered the financial services industry. Changing customer behaviors, which is driven by the high technological literacy of new generations on one hand and on the other hand by sharing economic factors, generate demand for new substitute services. As the COO of a bank, I used to work on the basis of the saying Most customers now have smartphones and many options. What they do not have is time and patience. However, a competitive advantage that incumbents still maintain is that they offer the most complete service and product offerings across financial services domains, including financial advice.
  • New entrants – Pressure level: High: The new entrants, after an initial period of facing high obstacles to penetrate the market and compete with incumbents, due to certain entry barriers such as regulatory frameworks, capital and license requirements, legacy bonds of clients with traditional institutions, and reputation establishment, have eventually made a significant breakthrough in the industry. Many of these new entrants have managed to build trust in the industry’s clients and attract funds from investors, as well as talented people. Their advantage is not only fully digital services, with reduced costs, but also new business models, improved customer experience, and technology service reliability. The effect that new entrants have varies across operating markets, business domains, and ecosystems, primarily due to factors such as regulatory frameworks, the resiliency and robustness of incumbents, as well as their market position, along with customer relations and behaviors.
Figure 1.1 – Porter’s Five Forces (1979) adapted to the financial services industry

Figure 1.1 – Porter’s Five Forces (1979) adapted to the financial services industry

What does an incumbent’s internal context look like?

The internal context of our representative incumbent bank is subject to more differences per incumbent compared to the external context, one can argue. There are, though, certain commonalities characterizing the internal context of globally and regionally systemically important banks. As we did with the external context, we will not cover the complete spectrum of internal conditions and will focus only on internal forces that have a direct or indirect foreseeable impact on enterprise DevOps adoption.

Persistent pressure on cost/income ratio

Incumbent banks, to remain competitive, need to continuously improve their cost/income ratio. This can either be achieved by reducing operating costs while keeping revenue relatively flat, or by keeping operating costs relatively flat and increasing revenue, or the happy days scenario, which combines operating cost reduction and revenue increase in parallel. Obviously, there is a convenient solution available, which is to bravely reduce the operating costs of the bank, as revenue increase is an exercise that requires great effort, and it is also affected by several external factors. In addition, focusing primarily on operating cost reduction can have an immediate effect on the bank’s balance sheet, while revenue increase is more of a long-term impact. Therefore, incumbents are extremely cost-conscious.

Bonus Information

The cost/income ratio is a major metric that determines the profitability of a bank. Its measurement analyzes the operating costs of running the bank against its operating income. The lower the cost/income, the more efficient and profitable a bank is. The mathematical formula used is operating cost / operating income = cost/income ratio.

Operational efficiency focus

Incumbents strive to produce more with less in improving their operational efficiency through the utilization of resources. Aiming to maintain a competitive advantage and create a first-mover advantage through the delivery of more innovative services and products, incumbents continuously examine possibilities to extend their production possibilities frontier through resource utilization. Their production possibilities frontier can be increased either with extra people and capital deployed, which is not the ideal strategy due to cost constraints, as we explained earlier, or by deploying technological advancements as their means of delivering new products and services. The latter sounds optimal and is the only sustainable possibility. In distinguishing this internal context factor from the cost-income ratio factor, we need to clarify that producing more does not necessarily mean more revenue, and the deployment of new technologies will also not necessarily come with a cost reduction in technology operating expenses. Your new products might not sell, and the utilization of new technologies does not come for free.

Figure 1.2 – Production possibilities frontier, adapted to incumbent banks

Figure 1.2 – Production possibilities frontier, adapted to incumbent banks

New ways of working

New, in this case, does not mean newly invented in the industry, but new in the sense of enabling new ways of doing things in a banking context. Concepts such as Agile, DevOps, scaled Agile delivery, modern software delivery, and site reliability engineering have been around for many years but very few incumbents have found solid steps in adopting them in a harmonious and scaled way, characterized by continuous organic evolution and not back-to-back transformation programs. You will often hear stories such as Bank A just started its Agile Transformation v3 or that Bank B started its DevOps Industrialization v2. I always remember a saying from an ex-peer of mine: Banks get transformation programs done so they can start another transformation program to transform the results of the previous one. This is of course not representative of every incumbent, but it does hold lots of truth in it. Another present challenge is the difficulty for incumbents to fit all the new WoW concepts under one operating model that is characterized by harmony and reconciliation. Often, also, as we will see later in the book, the adoption of new WoW concepts is complemented by organization structure changes that in many cases defeat the new WoW method’s purpose. All of this results in a confused and misaligned modus operandi, characterized by internal variations, an ineffective blend of old and new ways of doing things, and resistance, under the mentality that if it is not invented here, it cannot be implemented here.

Organizational debt

In IT, we often use the term technical debt, referring to software solutions that have been deployed to production that are characterized by low quality and in the future will result in functional and non-function abnormalities. Looking at the broader context, incumbents are faced with what I prefer to call organizational debt, which spans horizontally and vertically across their organizations, from outdated people skills to coupled legacy platforms, and from bureaucratic policies to complex and cumbersome manual processes, backed by a deep-rooted old-school mentality on WoW, based on silos and fragmentation. All these elements have multidimensional and domino-effect consequences for an incumbent’s internal operations and its ability to transform and advance. Such conditions not only increase the cost and complexity of delivering and running technological solutions but also impose high operational and regulatory risk, slow down the adoption of new WoW and radical digitalization initiatives, as well as impose a great risk on an incumbent’s ability to attract and maintain talented people.

Digitalization and platformization

Banking as a service is becoming the new business model norm and a vehicle for staying relevant, enabled by significant investment in digitalization and platformization. The focus is not only narrowed on how clients interact with banks but also on how internal business units interact with IT, as well as IT-to-IT interaction. However, in many cases, banks face significant challenges on that digitalization and platformization journey, primarily due to heavy reliance on legacy technological platforms. The situation is characterized by old untenable platforms, with unknown technical debt, black-box business logic implementations, expiring maintenance contracts, poor documentation, monolithic architectures, lack of integration, high customization, difficulty upgrading, unreliability, and scarcity of people with deep knowledge. What is often called in the industry a legacy dilemma is still to be solved for most incumbents, with some bombs ticking as we speak (borrowing an expression of an ex-CIO of mine).

Corporate and technology strategy objective misalignment

Technology is there to enable the business and the other way around, you could rightly claim. That statement indicates that corporate and technology strategies need to therefore be in close alignment and evolve together. This condition of alignment is challenging to achieve, especially in very large incumbents. Organizational structures, siloed business domain thinking, a lack of collective strategic initiatives, conflicting performance indicators, ambiguous benefit realization procedures, a lack of technological literacy on the business side, as well as a lack of business literacy on the technological side, in combination with middle management being the transmitter of priorities and direction, creates a condition of misalignment and misunderstandings. On the technological side, this misalignment in many cases goes deeper between the business IT areas and the core infrastructure teams. One of the situation’s consequences is the occurrence of extreme variations in the adoption of different technologies and concepts. Another consequence is the inability of teams to understand how they are supposed to contribute to materializing the incumbent’s strategic objectives, the motivation behind those objectives, as well as what their position is and their role in the delivery value stream.

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Key benefits

  • Design the right DevOps operating model for your organization through practical examples
  • Get insights into a variety of proven practices and concepts that you can employ during your DevOps adoption
  • Gain a holistic view of the complete DevOps capabilities and mechanisms to be enabled

Description

In recent years, large financial services institutions have been embracing the concept of DevOps in the core of their digital transformation strategies. This book is inspired by real enterprise DevOps adoptions in the financial services industry and provides a comprehensive proven practice guide on how large corporate organizations can evolve their DevOps operating model. The book starts by outlining the fundamentals comprising a complete DevOps operating model. It continues with a zoom in on those fundamentals, combining adoption frameworks with real-life examples. You’ll cover the three main themes underpinning the book’s approach that include the concepts of 360°, at relevance, and speeds. You’ll explore how a bank’s corporate and technology strategy links to its enterprise DevOps evolution. The book also provides a rich array of proven practices on how to design and create a harmonious 360° DevOps operating model which should be enabled and adopted at relevance in a multi-speed context. It comes packed with real case studies and examples from the financial services industry that you can adopt in your organization and context. By the end of this book, you will have plenty of inspiration that you can take back to your organization and be able to apply the learning from pitfalls and success stories covered in the book.

Who is this book for?

This book is for DevOps practitioners, banking technologists, technology managers, business directors and transformation leads. Prior knowledge of fundamental DevOps terminologies and concepts and some experience practicing DevOps in large organizations will help you make the most out of this book.

What you will learn

  • Understand how a firm's corporate strategy can be translated to a DevOps enterprise evolution
  • Enable the pillars of a complete DevOps 360° operating model
  • Adopt DevOps at scale and at relevance in a multi-speed context
  • Implement proven DevOps practices that large incumbents banks follow
  • Discover core DevOps capabilities that foster the enterprise evolution
  • Set up DevOps CoEs, platform teams, and SRE teams
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Table of Contents

20 Chapters
Part 1:Introduction, Value Proposition, and Foundation Chevron down icon Chevron up icon
Chapter 1: The Banking Context and DevOps Value Proposition Chevron down icon Chevron up icon
Chapter 2: The DevOps Multi-Speed Context, Vision, Objectives, and Change Nature Chevron down icon Chevron up icon
Part 2: The 360° DevOps Operating Model, Governance, and Orchestration Mechanisms Chevron down icon Chevron up icon
Chapter 3: The DevOps 360° Operating Model Pillars and Governance Model Chevron down icon Chevron up icon
Chapter 4: Enterprise Architecture and the DevOps Center of Excellence Chevron down icon Chevron up icon
Chapter 5: Business Enterprise Agility and DevOps Ways of Working Reconciliation Chevron down icon Chevron up icon
Part 3: Capability Engineering, Enablement, and Launch Chevron down icon Chevron up icon
Chapter 6: DevOps Software Development Life Cycle 360° Evolution and Engineering Chevron down icon Chevron up icon
Chapter 7: The DevOps 360° Technological Ecosystem as a Service Chevron down icon Chevron up icon
Chapter 8: 360° Regulatory Compliance as Code Chevron down icon Chevron up icon
Part 4: Adopt, Scale, and Sustain Chevron down icon Chevron up icon
Chapter 9: The DevOps Portfolio Classification and Governance Chevron down icon Chevron up icon
Chapter 10: Tactical and Organic Enterprise Portfolio Planning and Adoption Chevron down icon Chevron up icon
Chapter 11: Benefit Measurement and Realization Chevron down icon Chevron up icon
Chapter 12: People Hiring, Incubation, and Mobility Chevron down icon Chevron up icon
Chapter 13: Site Reliability Engineering in the FSI Chevron down icon Chevron up icon
Chapter 14: 360° Recap, Staying Relevant, and Final Remarks Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon

Customer reviews

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John Phillips Mar 25, 2023
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Well structured, written and illustrated, with plently of real industry examples. A complete and fresh perspective of DevOps in large organizations, at enteprise scale.
Amazon Verified review Amazon
Emily Hill Jan 18, 2023
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This is a very practical and useful read for DevOps enteprise adoptions.
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Amazon Customer Dec 09, 2022
Full star icon Full star icon Full star icon Full star icon Full star icon 5
The book takes you by hand and reveals you the magic world of DevOps.The book has very good pace as it starts slowly with the fundamentals (ch1,ch2) then introducing the setup phase of the book (ch3,ch4,ch5) and then going full speed for the rest of the book.Also each new chapter is build upon the previous ones, so it would be best not to skip any chapters.The abundance of examples will help even the most inexperienced reader to get a good grasp on the subjects.In addition I really liked the personal “tips” that the author shared in the book in the form of tips on how to best approach a situation because it gives more perspective on the subject and it works as an “unofficial” recommendation section (i.e. Chapter 4 DevOps CoE).Additionally the author takes seemingly unrelated business practices (such as the Spotify Agile Model) and reintoduces them.Furthermore, although the book revolves around the banking DevOps environment, the information is presented in an agnostic way. You can apply the same principles in other ventures (such as insurance/insurtech).Finally one very important aspect of the book is that it treats DevOps as part of the whole bank system, and how it correlates with corporate and business goals and needs. In other words how DevOps help the bank achieve their goals.I recommend it to everyone who works in Tech (regardless if it’s financial institution or not.
Amazon Verified review Amazon
Colin But Feb 07, 2023
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Well written, structured and engaging. The several frameworks included provide good inspiration of practical methodologies, that can support an enterprise DevOps adoption. Though some of them have white text in grey background, which makes them little bit difficult to read. Note: 1) this book is for large and complex enterprises, not for small ones and 2) while the examples come from the financial services industry, i think they are quite industry agnostic in reality.
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SP Jul 25, 2023
Full star icon Full star icon Full star icon Full star icon Full star icon 5
I love a non fiction book that doesn’t waffle on - it gets to the point simply and quickly. This is a nice and easy read; with great use of diagrams to help the reader grasp concepts. Recommended for all working with Financial Services Technology (including the Business, as lets face it - who doesn’t work with tech these days!)
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Premium: Delivery to most Asian addresses within 5-9 business days

Disclaimer:
All orders received before 5 PM U.K time would start printing from the next business day. So the estimated delivery times start from the next day as well. Orders received after 5 PM U.K time (in our internal systems) on a business day or anytime on the weekend will begin printing the second to next business day. For example, an order placed at 11 AM today will begin printing tomorrow, whereas an order placed at 9 PM tonight will begin printing the day after tomorrow.


Unfortunately, due to several restrictions, we are unable to ship to the following countries:

  1. Afghanistan
  2. American Samoa
  3. Belarus
  4. Brunei Darussalam
  5. Central African Republic
  6. The Democratic Republic of Congo
  7. Eritrea
  8. Guinea-bissau
  9. Iran
  10. Lebanon
  11. Libiya Arab Jamahriya
  12. Somalia
  13. Sudan
  14. Russian Federation
  15. Syrian Arab Republic
  16. Ukraine
  17. Venezuela
What is custom duty/charge? Chevron down icon Chevron up icon

Customs duty are charges levied on goods when they cross international borders. It is a tax that is imposed on imported goods. These duties are charged by special authorities and bodies created by local governments and are meant to protect local industries, economies, and businesses.

Do I have to pay customs charges for the print book order? Chevron down icon Chevron up icon

The orders shipped to the countries that are listed under EU27 will not bear custom charges. They are paid by Packt as part of the order.

List of EU27 countries: www.gov.uk/eu-eea:

A custom duty or localized taxes may be applicable on the shipment and would be charged by the recipient country outside of the EU27 which should be paid by the customer and these duties are not included in the shipping charges been charged on the order.

How do I know my custom duty charges? Chevron down icon Chevron up icon

The amount of duty payable varies greatly depending on the imported goods, the country of origin and several other factors like the total invoice amount or dimensions like weight, and other such criteria applicable in your country.

For example:

  • If you live in Mexico, and the declared value of your ordered items is over $ 50, for you to receive a package, you will have to pay additional import tax of 19% which will be $ 9.50 to the courier service.
  • Whereas if you live in Turkey, and the declared value of your ordered items is over € 22, for you to receive a package, you will have to pay additional import tax of 18% which will be € 3.96 to the courier service.
How can I cancel my order? Chevron down icon Chevron up icon

Cancellation Policy for Published Printed Books:

You can cancel any order within 1 hour of placing the order. Simply contact customercare@packt.com with your order details or payment transaction id. If your order has already started the shipment process, we will do our best to stop it. However, if it is already on the way to you then when you receive it, you can contact us at customercare@packt.com using the returns and refund process.

Please understand that Packt Publishing cannot provide refunds or cancel any order except for the cases described in our Return Policy (i.e. Packt Publishing agrees to replace your printed book because it arrives damaged or material defect in book), Packt Publishing will not accept returns.

What is your returns and refunds policy? Chevron down icon Chevron up icon

Return Policy:

We want you to be happy with your purchase from Packtpub.com. We will not hassle you with returning print books to us. If the print book you receive from us is incorrect, damaged, doesn't work or is unacceptably late, please contact Customer Relations Team on customercare@packt.com with the order number and issue details as explained below:

  1. If you ordered (eBook, Video or Print Book) incorrectly or accidentally, please contact Customer Relations Team on customercare@packt.com within one hour of placing the order and we will replace/refund you the item cost.
  2. Sadly, if your eBook or Video file is faulty or a fault occurs during the eBook or Video being made available to you, i.e. during download then you should contact Customer Relations Team within 14 days of purchase on customercare@packt.com who will be able to resolve this issue for you.
  3. You will have a choice of replacement or refund of the problem items.(damaged, defective or incorrect)
  4. Once Customer Care Team confirms that you will be refunded, you should receive the refund within 10 to 12 working days.
  5. If you are only requesting a refund of one book from a multiple order, then we will refund you the appropriate single item.
  6. Where the items were shipped under a free shipping offer, there will be no shipping costs to refund.

On the off chance your printed book arrives damaged, with book material defect, contact our Customer Relation Team on customercare@packt.com within 14 days of receipt of the book with appropriate evidence of damage and we will work with you to secure a replacement copy, if necessary. Please note that each printed book you order from us is individually made by Packt's professional book-printing partner which is on a print-on-demand basis.

What tax is charged? Chevron down icon Chevron up icon

Currently, no tax is charged on the purchase of any print book (subject to change based on the laws and regulations). A localized VAT fee is charged only to our European and UK customers on eBooks, Video and subscriptions that they buy. GST is charged to Indian customers for eBooks and video purchases.

What payment methods can I use? Chevron down icon Chevron up icon

You can pay with the following card types:

  1. Visa Debit
  2. Visa Credit
  3. MasterCard
  4. PayPal
What is the delivery time and cost of print books? Chevron down icon Chevron up icon

Shipping Details

USA:

'

Economy: Delivery to most addresses in the US within 10-15 business days

Premium: Trackable Delivery to most addresses in the US within 3-8 business days

UK:

Economy: Delivery to most addresses in the U.K. within 7-9 business days.
Shipments are not trackable

Premium: Trackable delivery to most addresses in the U.K. within 3-4 business days!
Add one extra business day for deliveries to Northern Ireland and Scottish Highlands and islands

EU:

Premium: Trackable delivery to most EU destinations within 4-9 business days.

Australia:

Economy: Can deliver to P. O. Boxes and private residences.
Trackable service with delivery to addresses in Australia only.
Delivery time ranges from 7-9 business days for VIC and 8-10 business days for Interstate metro
Delivery time is up to 15 business days for remote areas of WA, NT & QLD.

Premium: Delivery to addresses in Australia only
Trackable delivery to most P. O. Boxes and private residences in Australia within 4-5 days based on the distance to a destination following dispatch.

India:

Premium: Delivery to most Indian addresses within 5-6 business days

Rest of the World:

Premium: Countries in the American continent: Trackable delivery to most countries within 4-7 business days

Asia:

Premium: Delivery to most Asian addresses within 5-9 business days

Disclaimer:
All orders received before 5 PM U.K time would start printing from the next business day. So the estimated delivery times start from the next day as well. Orders received after 5 PM U.K time (in our internal systems) on a business day or anytime on the weekend will begin printing the second to next business day. For example, an order placed at 11 AM today will begin printing tomorrow, whereas an order placed at 9 PM tonight will begin printing the day after tomorrow.


Unfortunately, due to several restrictions, we are unable to ship to the following countries:

  1. Afghanistan
  2. American Samoa
  3. Belarus
  4. Brunei Darussalam
  5. Central African Republic
  6. The Democratic Republic of Congo
  7. Eritrea
  8. Guinea-bissau
  9. Iran
  10. Lebanon
  11. Libiya Arab Jamahriya
  12. Somalia
  13. Sudan
  14. Russian Federation
  15. Syrian Arab Republic
  16. Ukraine
  17. Venezuela