DBS Bank has teamed up with Equinix to convert one of its traditional data centers in Singapore into a cloud-optimized facility.
This new initiative will enable the bank to move its main data center to significantly smaller premises, which are a quarter of the size of its existing data center. The new center is expected to be 75% cheaper to run.
The bank has been working on migrating to cloud-optimized technology in recent years, resulting in efficiency saves while increasing storage and computing capacity by sevenfold since 2014.
With growing business volumes and digitalization, compute workloads at the bank have doubled in the last three years and are expected to see continued significant growth.
The Equinix collaboration is expected to contribute towards advancing the bank’s sustainability agenda by improving energy efficiency by at least 10 times.
DBS has announced plans to shift 50% of its compute workload to the public cloud by 2018. Last year, the bank launched cloud partnerships with Amazon Web Services and Pivotal Cloud Foundry, and leveraged Microsoft’s cloud-based productivity technology, Office 365, in the workplace.
“By being a leader in adopting cloud technologies, DBS can deliver more customer value through our ability to experiment and scale quickly. Our teams are able to iterate and deliver products to our customers at a much faster rate, while adhering to the highest standards of security and resiliency,” DBS group CIO and head of technology and operations David Gledhill said.
“With the new cloud data center, we are able to significantly increase our energy efficiency as well as drastically reduce our carbon footprint.”
First published in FinTech Innovation