Ms. Palak Gupta
Assistant Professor, JIMS, Kalkaji
Introduction- India Infoline
In the Indian context of financial services, India Infoline (IIFL) is one of the leading players. It offers multiple solutions and execution platforms for a pool of financial services ranging from derivatives, equity, Wealth Management, Asset Management, fixed deposits, commodities, loans, gold bonds, investment Banking, small saving instruments and insurance etc. IIFL manages its own website www.indiainfoline.com which is one of the very established online destinations for stock market, economy, business and personal finance. It caters to a huge base of customers on variety of channels like online branch, network and telephonic communication.
Industry and Business Case
India Infoline deals with securities and stock trading or broker model. India Infoline had an exponential rate of growth after it launched its IPO in 2005. In order to support this and combat pressure of reliable service for multiple branch offices across the nation and approx million clients, the company felt the need for highly robust, scalable, flexible and available IT Infrastructure for which they decided to have outsourcing of this IT infrastructure while they could focus on their core business domains. IIFL was in search for managing IT hosting service provider that can provide scalability and streamline overall IT infrastructure for optimal utilisation of resources and also, they wanted to automate all their IT environments to have a centralised management.
Solutions Extended by Netmagic
Netmagic Solutions, an NTT Communications company proposed the apt solutions to IIFL needs as both of them grew together from start-ups and established themselves in service, quality and delivery. Netmagic as per IIFL, had a in-depth understanding of brokerage business in India, brokers needs, issues and requirements. They had to experiment with underlying technology and finally implemented a turnkey based IT operation setup for managing the entire physical infrastructure, all the applications of India Infoline including network management, database management, server management, security and authentication management, trading application management, vendor and project management and in all heir virtual environment. They proposed solutions in the form of-
1. Cloud Computing services
2. Infrastructure Management services
3. IDC and Managed Hosting services
4. Data Backups on cloud
Net Magic provided IIFL a good reliable service which was having a lot of flexibilities, scalability, reliability and easy accessibility of data. “Our experience with Netmagic has been very positive. We had a very good experience with the people we have interacted with and are satisfied with the level of service we have received from them,” says Sankarson Banerjee, Chief Information Officer, IIFL Ltd.
Key Benefits in IIFL Setup and Operations
1. IIFL was now able to focus more on human capital and core business processes for better application development and innovation.
2. All key application environments were now virtualized and centrally hosted at the data center of Netmagic that ultimately provided efficient management in IIFL.
3. The cloud extension that was provided by Netmagic to IIFL gave them the flexibility to scale IT infrastructure horizontally as per demand so as to accommodate the variations in the trading activities.
4. IIFL was now able to expand and grow its plans as round the clock support, maintenance and technical expertise was provided by Netmagic.
5. IIFL was able to optimally utilise their resources and plan future infrastructure requirements in a better manner as its entire IT infrastructure was streamlined.
Conclusion Net Magic Solution to IIFL was able to bring server reduction by 30% by effectively streamlining and scaling the company’s existing IT infrastructure. They managed both versions of IIFL trading application run smooth and fine during migration around 54 broadcast servers to the cloud. IIFL has recently added 35 more Cloud Service instances at the Net Magic datacenters for better scalability of the trading applications as the solutions by Net Magic has provided them application level redundancy with load balancing across various locations resulting into assured up time and high availability of IIFL portal and its applications.
Ms. Palak Gupta
Assistant Professor, JIMS, Kalkaji
JIMS, Kalkaji organizes a number of workshops, seminars, webinars and guest lectures for our students by eminent industry leaders and experts to apprise them on Cloud computing, AI, ML, Big Data and Analytics and motivate them for future learning.
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