Microsoft’s “Virtualization in Banking Survey 2008,” conducted by independent, Washington, D.C.-based research firm KRC gives some insight into virtualization findings for US and UK banking institutions:
TMCnet had this to say about key finding from the survey:
- 53 percent of those implementing virtualization reported that it eases centralization of deployment and management of applications as well as producing cost savings
- 51 percent reported that virtualization makes it easier to respond to issues such as failures of applications or systems
- 46 percent felt that saving space made it easier to provide security and 34 percent ranked it as significant for driving technology
- 95 percent of current virtualization users have implemented it in regional or national headquarters; 53 percent in branch offices
- 82 percent of those deploying virtualization in branches were in community branches; 31 percent in showcase branches; 28 percent in co-located branches; and 13 percent in mobile branches.
Again from TMCnet:
“In today’s major retail bank, machine operating system virtualization is becoming a foundation for a dynamic and responsive data center. Application virtualization continues to change how banks manage line-of-business software applications.
Within the desktop, it is empowering workers by enables them to run multiple operating systems and presentation virtualization allows bank employees to seamlessly execute an application from a remote computer.”
Remove the percentages and brake this down to some key take-away’s and you’ll see:
- eases centralization and management of applications
- easier to respond to issues
- space saving
- easier to provide security
“The wide variety of virtualization reported in the survey may be a direct result of increasing market pressure on banks to reduce costs, innovate and manage IT resources more centrally. For today’s major retail bank, machine operating system virtualization is becoming a foundation for a dynamic and responsive data center; application virtualization is changing how banks manage line-of-business software applications; desktop virtualization is empowering workers by enabling them to run multiple operating systems on a single desktop; and presentation virtualization allows bank employees to seamlessly execute an application from a remote computer.”
Like the other IT sectors being asked to do more with less, the banking industry is finding they can save real money by virtualizing.