Finacle - Green Banking Technology Solutions | IT Energy Saving Technology

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With managing environmental change and sustainability becoming a burning priority know how Banks can go for green solutions and create energy efficient systems.

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Finacle - Green Banking Technology Solutions | IT Energy Saving Technology

  1. 1. Green solutions for banksThought Paperwww.infosys.com/finacleUniversal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
  2. 2. Green solutions With managing environmental change and products and services, investment in bonds sustainability becoming a burning priority, a and mutual funds linked to environmental number of socially responsible corporations investments are doing their best to save the earth through • Priority or preferential lending to renewable initiatives to reduce consumption of resources energy or afforestation projects etc. like energy, power, water and paper and regenerate resources like clean air and natural • Setting up of solar powered ATMs vegetation. Stringent environmental norms and • Fee waivers and concessions for environmentally- policies, such as Green accounting are lending friendly residential projects direction to the sustainability effort of industries, including banking and financial services. • New green model of branch banking, in which branches recycle water, use natural light, and While banks, like other organizations are conduct paperless transactions as far as possible. implementing eco-friendly practices in their day-to-day operations, as one of the prime • Discretion on extending credit to companies movers of economic growth and industrial that don’t comply with ISO14000 norms activity, they are in a position to do much more. Indeed, banks can effect large-scale change Banking technology vendors can also contribute by supporting sustainable investment, ethical to Green Banking by making their products lending or green businesses as part of what energy efficient. Banking software solutions they do; they can, for instance, “persuade” large running on multiple channels – branch, ATM, borrowers across industries – from real estate to Internet and mobile – do consume energy and power to pharmaceuticals – to take a greener if they could be designed to save even one approach to business. watt per terminal per day, it would make a very sizeable impact. • Current Green Banking initiatives come in many forms: Creation of green financial Bank Number Average Power Power Total Power Power Total of Number Usage Usage Number Usage Usage Power Branches of (units in a of (units) After Saved Terminals per Day of Terminals Software/ by Using hour) 8 Hours in All Hardware Bank Banking (units) Branches Optimi- per Software zation* Day (units) (units) Bank1 1000 30 2 16 3000 48000 45000 3000 *Assuming energy efficient software and hardware optimizations save 1 unit of energy per day per terminal Is it possible to make software energy efficient? this is indeed possible. Research shows Can software reduce a desktop’s power significant potential for saving energy through a consumption in a bank? Can mobile banking combination of hardware and software software play a role in extending the battery optimization techniques. power of a mobile platform? Some measures to build energy efficient Emerging technology trends suggest that banking software could be:02 Thought Paper
  3. 3. Developing features that reduce paper usagein branch bankingSoftware vendors could develop biometrics- By supporting electronic storage of regulatoryenabled software to enable customers to access reports signed digitally by authorized signatories,safe deposit lockers, and thereby help banks Core Banking software can help banks cutdo away with paper registers. Kiosks can down significantly on paper consumption andreplace written applications for taking requests storage costs.for cash, bank drafts, etc. Digital money transfervia NFC or mobile wallet is a greener and moreefficient way of moving funds.Software optimizationsAlgorithms, protocols, data efficiency and of lines of code and generates output quicklycontext aware methods, tools and technologies to free up the CPU for low-power or additionalsupporting the creation of energy efficient tasks. Although this is a general goal ofsoftware should be leveraged to make banking computational efficiency, it might be a goodsoftware more “power aware”. An energy efficient idea to progress towards it from the softwareprogram is one, which uses minimum number development stage itself.Hardware optimizationsSoftware vendors should partner with banks consumption has become a priority for theseto co-create software designed to interact companies as well. Currently, there are toolsefficiently with the bank’s OS, third party to monitor an application’s performance butapplications and hardware. For instance, they none to check its energy consumption duringcould design an ATM, which goes into power various transactions. Here again, partneringsaving mode when not in use. with the right vendors can help banks derive maximum advantage from opportunities to saveEarlier, OS and microprocessor manufacturers software energy.aimed at performance efficiency; however,optimizing both performance and energyCombination of hardware andsoftware optimizationsEnergy efficiency can be improved by either of powering and cooling the system. It isincreasing the number of operations per unit particularly important in large installations suchof energy consumed or decreasing the amount as data centers, where power and cooling costsof energy consumed per operation. Increased can be sizable.energy efficiency reduces the operational cost Thought Paper 03
  4. 4. • Banks can reap benefit by switching to providers and consultants should proactively thin computing and using virtual desktop educate traditional banks about this infrastructure (VDI). Standard Bank’s London emerging option. office successfully adopted this model to • Using energy efficient GUI for both core and cut down energy consumption by one third. mobile banking, and the right browser or National Australia Bank has set a goal to application for desktop and mobile banking realize 90% virtualization of servers and respectively can prolong mobile battery turn the bank, including its data center, life, lower electricity costs and minimize carbon neutral. environmental impact. • Cloud computing offers another way to conserve energy and IT budgets. Software Client education and energy consulting Software companies could offer energy could guide banking clients on how to optimize consulting to clients as a value added service energy or evaluate their solutions from an at every stage of a project. For instance, they optimization standpoint. Conclusion If banking technology vendors were to energy savings, thereby serving the interests of collaborate with banks to create energy both parties, and of society in general. efficient systems, it could result in large scale References 1. www.pcmag.com/ar ticle2/0,2817,238280 4. Energy Management for Commercial Servers 8,00.asp www.vmware.com/files/pdf/partners/desktop/ Wyse-CaseStudy-StandardBank.pdf 2. www.indiaenvironmentportal.org.in/ mplus/themes/MPlus/lightBoxNews.php?news 3. www.cse.msu.edu/~cse891/Sect601 CaseStudy/ Link=aprl23_1 BiometricsBankingIndustry.pdf 5. www.finextra.com/ Jaya Sudha Mahajanam Lead Consultant, Infosys04 Thought Paper
  5. 5. About FinacleFinacle from Infosys partners with banks to transform process, productand customer experience, arming them with ‘accelerated innovation’that is key to building tomorrow’s bank.For more information, contact Finacleweb@infosys.com www.infosys.com/finacle© 2012 Infosys Limited, Bangalore, India, Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosysacknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document. Thought Paper 05

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