SeABank virtualises core banking system to augment infrastructure scalability and flexibility
The bank implemented an enterprise-wide virtualisation of its core banking platform; virtualising 90% of its host servers to the cloud in a pioneering innovation strategy. June 20, 2013 | Levina LimPreamble Founded in 1994, Southeast Asia Joint Stock Commercial Bank (SeABank) is categorised by the State Bank of Vietnam in Group A – a group of the 14 biggest commercial banks out of 39 banks in terms of charter capital, scale of distribution network and banking technology infrastructure. With a portfolio of over 60 retail banking and 40 corporate banking products, the Bank serves hundreds of thousands of individual customers, SMEs and large corporations. To meet the increasingly diversified banking needs of customers, SeABank planned a strategic investment in IT technology to develop more advanced banking services to enhance the bank’s competitiveness. In order to maximise productivity, minimise IT operating costs and ensure stability and security, SeABank initiated a strategy in IT implementation to develop technology infrastructure towards virtualisation built on a cloud-based computing program. SeABank’s efforts began in 2006 and have been carried out in four concurrent projects from establishing virtualisation infrastructure to providing IT implementation as a service. The challenge SeABank aimed to virtualise 90% of its host servers in the cloud in an early pioneering innovation strategy. Objectives include:
An increase in business pressures such as market transformation, trade automation, increased trade volumes and regulatory compliance drove the need for shorter delivery times and minimise disruptions to SeABank’s IT system. Budgetary pressures to lowe... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Core Banking, Innovation, Technology & OperationsCore Banking,Innovation,technology, Core Banking,Innovation,Technology & Operations, Keywords:Cloud Banking, Virtualisation, SeABank, Cisco Systems, IBM, Hewlett-Packard Cloud Banking, Virtualisation, SeABank, Cisco Systems, IBM, Hewlett-Packard
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