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IBM today announced that it has collaborated with Indian Bank, a premier public sector bank, to accelerate its modernization path with flexible and secure compute infrastructure for deploying new front-end banking applications, while addressing the business growth of the Core Banking Solution (CBS) workloads for the bank.
The key objective of this partnership is to achieve greater agility, scalability, and security to meet the bank’s growth requirements in today’s dynamic and hyper-competitive market.
With over 100 million customers and a vast network of 5,798 branches spanning India and overseas, Indian Bank as part of their ambitious “Project PARADISE”, sought to consolidate their Front Branch Servers for improved manageability and availability at their Data Centres (DC) and Disaster Recovery (DR) centres. Additionally, Indian Bank aims to run its Core Banking Solution (CBS) workloads on the latest generation of IBM Power® servers.
Deepak Sarda, chief general manager – IT and partnership at Indian Bank, expressed his enthusiasm for this collaboration, stating, “As part of our capacity management initiative and to manage evolving application requirements, we wanted a cloud-like functionality within our own data centre. With benefits like better flexibility, lower costs, and enhanced security, we are creating a value-oriented solution by setting up a proactive and service-oriented model for the bank.”
Viswanath Ramaswamy, vice president, technology, IBM India & South Asia, emphasized the importance of embracing new technologies in the banking sector. He stated, “Evolving customer needs demand a new operating model for banks driven by a nimbler digital environment. Those that embrace new technologies to modernize can gain a significant competitive edge, build market differentiation through innovation, and prepare themselves for the new financial frontier.”
IBM’s proposed solution for Indian Bank includes a hybrid cloud approach for all AIX workloads, aimed at boosting agility. This approach combines Capex and Opex models for the consumption of compute resources, effectively providing Infrastructure-as-a-Service (IaaS). It also creates a private cloud using available resources, establishing a single pool of processors across DC and DR sites, and enabling services equivalent to a pay-as-you-grow model.
To enhance security, Indian Bank is implementing IBM PowerSC for all AIX endpoints, ensuring better support for compliance audits. IBM PowerVC has been deployed for simplified virtualisation management, cloud deployments, workload image management, and dynamic resource optimisation for IBM AIX Servers. By implementing Power Enterprise Pools, Indian Bank has streamlined the utilisation of compute resources across their DC and DR sites, ultimately reducing the total cost of ownership.
The new cloud environment provided by IBM offers several advanced features, including virtual machine replication for consistency, a self-service portal for streamlined provisioning, and capabilities such as virtual image capture, deployment, and cataloging. Through the consolidation of front-end branch servers, Indian Bank enhances manageability and availability at its data centers in Chennai and Mumbai, ensuring uninterrupted service for customers.
In another news, Indian Bank recently set up 10 startup cells across different centres in the country to serve its specialised banking requirements. Through this the bank aims to create banking products and services for startups keeping in mind their unique and specialised baking requirements.
