Financial Institutions Can Save Over 50% on Networking Operational Costs

Financial institutions can achieve total cost of ownership (TCO) savings of

over 50 per cent by moving away from do-it-yourself (DIY) network

infrastructures and using shared managed extranet services, according to a

newly-published whitepaper from an independent research firm that has been

sponsored by BT.  The research found that in the first year of

implementation financial institutions can realize TCO savings of 51 per cent,

with year-on-year savings thereafter of 52 per cent.

In the aftermath of the financial crisis, though many IT projects and

investments have been brought to a standstill by the economic downturn, the

appetite for technology investment amongst the financial community is still

stronger than any other sector, with 36 per cent of financial institutions

spending money on faster, more reliable network technology to survive the

recession (findings from a 'Road to Recovery' research report by BT Global

Services published November 2009).

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