Data explosion in the banking sector is at its peak due to data creation through multiple touchpoints – mobile banking, digital wallets, chatbot supported customer assistance services, etc. If not managed carefully, the rampant explosion in volume and variety of data could lead to a situation where containing the technology will become complex, says Sunil Gupta, Managing Partner and CEO, Yotta Infrastructure, in an interview with Elets News Network (ENN).
- Yotta talks about scalability and cost. Why do you think this is important for the BFSI segment?
The Indian banking sector is constantly evolving with new technologies like Central Identity, UPI payment services, eWallets and entry of niche fintech companies in the ecosystem. This is resulting in the generation of large volumes of data in real-time. As they move towards digitisation, this data further explodes as historical data lying in their records is also digitised adding to the existing information. Multiple consumer touchpoints also contribute to this data explosion. BFSI companies thus need a secure, fast, reliable and scalable data infrastructure to provide seamless customer experience and frictionless backend processes to stay competitive today.
Housing such a high tier DC to facilitate these services in-house won’t be a viable choice for the banks. They are now opting for third party hyper-scale data centre services to eliminate capital costs. Being a Hiranandani subsidiary, Yotta has access to large land banks, construction capabilities, captive power generation and distribution capabilities, and is able to pass on cost benefits to its customers by leveraging economies of scale of group companies. Our data centres can cuts costs by 20 percent for our customers.
- How Yotta or any other data centre infrastructure helps BFSI sector to suffice their digital infrastructure requirements?
As the banking sector continues to adopt technology, it will require more data storage. Having a captive data centre is not ideal for them anymore. The resources of the company will be wasted to build extra racks for the future as their data storage requirement increases and may end up using obsolete technology. Using colocation data centre services will help them control the capacity they lease from the service provider. Along with a high tier infrastructure, DC service providers would be required to provide value-added cloud and IT services. Also, they recruit staff with expertise in data centre management to maintain efficiency and provide good quality service.
At Yotta, we believe that hyper-innovation happens at the intersection of modern technology and an infinitely scalable business ecosystem. We conceptualise, design, engineer and operate hyper-scale data centre parks to support the quality and capacity requirements of companies rapidly moving towards digitisation.
- What does Yotta offer? And specific to BFSI, what challenges Yotta can handle with its offerings?
Data explosion in the banking sector is at its peak due to data creation through multiple touchpoints – mobile banking, digital wallets, chatbot supported customer assistance services, etc. Since the demonetisation, digital payments have witnessed an increased adoption among consumers. In fact, the use of online payment systems for fund transfers by enterprises has been on the rise, resulting in more data. The sector requires a data centre infrastructure that can be upgraded on-demand to handle large quantities of data and manage real-time processing. Yotta is building hyper-density, hyper-scalable Uptime Institute Certified Tier 4* data centre which would be capable to fulfil the banking sector’s DC requirements.
Yotta along with colocation services offer a rich portfolio of tech services which can address compute, storage, network security, data protection, disaster recovery and BCP requirements of the bank.
- How data centre can help in managing transactional data storing, protection and compliance?
If not managed carefully, the rampant explosion in volume and variety of data could lead to a situation where containing the technology will become complex. This would then result in complications in managing systems and reduce productivity. Likewise, the ever-increasing requirements for data backup, archiving, security and compliance continue to intensify the burdens on both IT and costs and same more applicable for the BFSI segment.
Reduce the cost and complexity of providing IT services or cloud Services with next generation Storage-as-a-Service (STaaS), Backup-as-a-Service (BaaS) and advance data management capabilities. You can opt for different levels of our service – essential, professional and ultimate.Enjoy fast, high-performance local data access, with seamless integration to the powerful, scalable and secure next generation cloud platform for data protection, recovery and archiving; which in turn suffices all utmost needs of BFSI segments processing, protection persistence and compliance.
- How secure is your data centre so that a BFSI client gets that confidence to host with Yotta?
With the modern technology influencing nearly all sectors in India, the BFSI sector is perhaps the most significant one of them. At the same time, data security is of utmost importance for enterprises today, well-equipped data centres are undeniably the greatest need of the hour. Robust Infrastructure support is of equal importance to keep the data centres and its applications running. We as Yotta, very well understand these facts and give utmost importance while designing, executing and while offering services to our customers.
Multiple level of physical and logical zoning, access controls deployed at data centre to take care of physical security aspects. Similarly, while processing data and storing data we have deployed necessary network security controls with next generation firewalls (NGFW’s), network intrusion detection and prevention systems (NIDPS), advanced anti-virus and anti-spam technologies, encryption data in rest and movement etc. On top of it our 24×7 specialised centralised command centre and security centre, which manned with highly qualified and experienced experts, monitors all kind of viruses, anomalies, breaches and does event management to ensure the highest level of security and business continuity.
These are unique and our efforts in this regard can address the most pressing challenges pressed by the BFSI industry and extend the confidence and competitive advantages.