Banks and financial services organizations are faced with unique challenges when it comes to IT solutions and managing data. In regard to data storage in particular, financial institutions are often plagued with expensive and outdated architecture, slow speeds, and disruptive downtime. As these organizations begin researching ways to upgrade and modernize their IT, they are often making the move over to virtualized systems.
Listed below are some examples of different banking and financial institutions that realized several benefits by transitioning from legacy hardware to virtualized storage solutions.
- PraxisIFM: Professional financial services firm PraxisIFM was looking to replace a traditional SAN solution, as their organizational needs grew. Their HPE Modular Smart Array 2040 SAN was costly, outdated, and wasn’t meeting their performance needs. By implementing StorMagic SvSAN, PraxisIFM was able to deploy highly available storage infrastructure at two different datacenters, 30 miles apart, as a stretched cluster. This configuration enabled them to prevent downtime, reduce their expenses by 50%, and accelerate their solution’s performance.
- First Enterprise Bank: Oklahoma-based First Enterprise Bank’s previous network infrastructure was outdated, overprovisioned, expensive, and too slow. They decided to upgrade to a virtualized solution, specifically to address disaster recovery concerns, as they were located in an area notorious for natural disasters. Given that they store mass amounts of sensitive customer data, they needed a solution that was reliable, resilient, and that would keep their data protected. With StorMagic SvSAN, First Enterprise Bank was able to significantly reduce their hardware requirements and associated costs, and also enact a simple disaster recovery plan with automated failover.
- Mediterranean Bank: With locations in Malta, Belgium and London, Mediterranean Bank’s previous solution was approaching its end of life, and they needed to upgrade to a new system that was modern, lightweight, and highly available, even in disaster recovery scenarios. They selected StorMagic SvSAN for its ability to combat downtime, decreased CAPEX and OPEX, and simplicity. They implemented a stretch cluster using SvSAN, which allows synchronous mirroring between two physical sites, to prevent disruption during local site outages.
- Cover & Rossiter: Accounting and advisory firm Cover & Rossiter, based in Delaware, struggled with infrastructure that was dated, non-redundant and didn’t offer enough power to run all of the organization’s required applications in the event of a server failure. They knew they could reduce costs and add speed by moving to a virtualized solution, which is why they decided to make the switch to StorMagic SvSAN. Since SvSAN was added to their environment, Cover & Rossiter has eliminated downtime, realized incredible cost savings, and benefited from increased performance and greater ease of management.
A virtual SAN solution, like StorMagic SvSAN, delivers simple, affordable, modernized storage to banking and financial institutions. These types of organizations are tasked with storing and managing valuable customer information that needs to be accessible at all times, and protected in the event of a breach or external disruption (i.e. outage, natural disaster). SvSAN eliminates downtime and ensures data is always available, making it ideal for disaster recovery purposes. It is lightweight, requiring minimal hardware, which reduces costs, removes complexities in the datacenter environment, and improves performance.
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