Virtualized Banking Can Save Real Money

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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

CNNMoney had this to say –

“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.

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