Cosmos Co-Operative Bank selects IBM to run its core banking solution

IBMs robust POWER7 platform helps reduce total cost of ownership and maximize ROI; Consolidates over 8 High end Power 5 servers onto 3 POWER7 servers to reduce TCO by 40%

The Cosmos Co-operative Bank Ltd. (Cosmos Bank), one of the leading multi-state co-operative banks today announced that it has selected IBM’s robust POWER 7 systems to run its core banking solution. Cosmos Bank has consolidated its sprawling server infrastructure of over 8 Power 5+ servers (which included P570, P55A & 52A servers) onto three IBM POWER 7 servers (POWER 750) to run its core banking application. With the new system, the bank expects to increase performance by 50% (with 100% additional headroom for growth within each server) while reducing operating costs by 40%. Power consumption is also expected to be reduced by 65%.

Headquartered in Pune, Cosmos Bank is one of the oldest Urban Co-operative Bank in India with more than 119 service outlets across the country. With plans to expand operations in the forthcoming years, the banks current infrastructure was unable to keep pace with the rapidly growing volume of data being generated. IBM POWER7 systems will help the bank analyze customer data, helping it to better manage current demand for its products and services as well as predict areas of potential future growth. The new system will also enable Cosmos Bank to manage applications and services at less cost, with technology breakthroughs in virtualization, increased energy savings and more cost-efficient use of memory

“Cosmos Bank has been delivering quality financial services to its customers since 1906 and has carved a niche in the urban banking sector. We turned to IBM to help transform our core banking systems and bring in intelligence throughout our branches by analyzing data in real time, helping to improve customer service while increasing efficiency. IBM provided the best combination of price/performance and technology/industry leadership,’ said Vasant Manwadkar- General Manager-IT, Cosmos Bank

“IBM "smarter systems"  have over the years helped mid-sized banks and financial institutions to manage their vast amounts of data, handle analytic and transactional workloads 20 times faster, scale as their needs grow, enable efficient and agile data centers, and remain secure and highly available. This partnership reaffirms the confidence that clients have on AiX and reiterates the value that our POWER 7 systems bring to the table for our clients.” Viswanthan Ramaswamy, Country Manager – Power Systems, Systems and Technology Group, IBM India/SA

There would be two POWER 750 servers located in the primary data center and the third is located in the company’s disaster recovery environment. All of the POWER 750 servers use IBM POWERHA for AIX & Linux software will provide a complete failover solution that promotes high availability. The POWER 750 platforms performance is enhanced with the following IBM STG System Software:

• IBM Systems Director Active Energy Manager software, which helps the bank monitor energy consumption and thermal usage
• IBM Systems Director software, which provides in-depth manageability over the POWER 750 platforms with predictive failure analysis and remote supervisor adapter capabilities
• IBM Server Virtualization software, which allows for the creation of multiple logical partitions (LPAR) on each physical server with dedicated input/output (I/O) ports for each to promote complete redundancy. 

About Cosmos Co-operative Bank Ltd.
For more information on Cosmos Bank please visit http://www.cosmosbank.com/

About IBM
For more information on IBM, please visit http://www.ibm.com