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Data Centre Services: Shaping The Digital Era For The BFSI Sector

Oct 03, 2022
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STT GDC India
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Financial services technology is now in the midst of a dramatic transition as CIOs, and corporate teams plan for the next big phase of digital transformation. In today’s dynamically competitive landscape of increasing economic challenges, the need for rapid action and responsiveness is imperative.

 

To tackle the emerging challenges, Financial institutions should modernize their technological capabilities and functions to support the accelerated digitization for both the front and back ends of their operations.

 

BFSI Industry: The Present Landscape

 

Previously, banks, asset management firms and other participants in the BFSI sector were hesitant to embrace cloud ecosystems, highlighting privacy issues, security problems, regulatory standards, and the complexities of integrating internal and third-party systems. That being said, over the last few years, banks have re-examined their previous conclusions due to increased cloud computing applications in the BFSI sector for services including payment gateways, online fund transfer, digital wallets, merchant accounts and unified consumer experience.

 

The growth of Internet Of Things (IoT), ever-increasing data requirements and continuing cloud adoption have propelled the transition from conventional enterprise data centres facilities to next-generation DC Facilities. Several BFSI companies are currently implementing new approaches—including hybrid IT, edge computing, distributed IT, and micro data centres—all of which offer various benefits and allow them to gain a competitive advantage. 

 

As data centres continue to grow, power remains an important part of the change that is often ignored. Moving forward, businesses would need the flexibility and capability to manage power anywhere, be it in remote areas, on a colocation site, in the cloud or within the financial enterprise data centre—and transfer workloads seamlessly from one location to another based on power incidents.

 

Key Drivers Of The Financial Data Centre Industry In India

 

More than 300 million UPI transactions take place in India, and approximately 22 million transactions are made over a BHIM app every month, as per Government data. *Having a digital user base of 300 million and counting, the scope of digital transactions in the country is expected to rise to $ 1 Trillion by 2025. *

 

With extremely high digital growth rates and a rapidly growing Internet penetration, India’s financial data centre segment is on the rise to expand phenomenally in the coming years. In the recent times, the Government of India has emphasized the importance of building cloud warehouses to enhance storage capabilities for the immense volumes of data generated on different digital channels, including over-the-merchant site and app made payments.

 

Some of the key drivers of the Indian financial data centre Industry include:

 

  • A massive population that is well-aware and informed about the IT and communication technologies.

  • The steady development in the country’s Internet penetration rate and smartphone sector.

  • Disruption of technological ecosystems by Artificial Intelligence (AI) and Application programming interface (API) based analytics for enhancing and automating processes while improving the consumer experience.

  • Government-backed investments for enabling massive scale digitisations.

  • Soaring rise in the consumption of social media.

 

STT GDC India’s Role In Supporting The BFSI Industry With Continued Innovation

 

Speaking of innovation, not only BFSI, but businesses across all industries must change their business strategies to survive and grow in an ever-changing, digitally-focused globalized economy. At STT GDC India, we are continually focused on making better efforts to enhance our products, practices and services and strive to add more customer value to your business, while also ensuring efficiency. 

 

STT GDC India believes that, over time, an organization can implement gradual and significant innovative changes in its processes, product design, services and technologies. The same applies to the BFSI industry.   

 

As an aftermath of India’s digitization movement, Cloud and Data Centres have become the backbone of the BFSI industry. Driven to support and meet the growing needs of the BFSI industry, STT GDC India enables efficient collection of data, improved analysis, and advanced reporting of the same in an actionable structure and format.

 

Additionally, we also provide support for monitoring and managing numerous infrastructure aspects seamlessly with our comprehensive data centre services framework comprising mission-critical servers, multi-layered security measures, secured storage for databases, efficient disaster management, sustainable energy practices and a host of other customizable features to help our clients gain a competitive advantage*.

 

STT GDC India has enabled several leading BFSI Clients in India, including Max Life Insurance, City Union Bank, HDFC, and SBI Cap Securities to build a cost-efficient, advanced and scalable infrastructure, supporting them to pursue business excellence*.

 

We, at STT GDC India, provide our BFSI clients with improved uptime, scalability, and connectivity for their critical IT infrastructure.With our rapid deployments, businesses don’t have to invest in purchasing a data centre or managing it.

 

While our experts manage the critical infrastructure, business-critical data or internal applications, and other such complex technical elements, our clients focus on their core business, ensuring optimal efficiency.So, if you are looking for a financial data centre that can up your digital game, contact us!