The possible areas where we may explore the technology is HTTP proxy on cloud and hosting of static content Cloud might also be more relevant for tablet/iPad users.
With its client base, volumes and presence, Geojit BNP Paribas Financial Services Ltd is one of the leading retails financial services company in India. It has more than 622,000 clients in India, and over Rs 11,776 crore in assets under management. The company pioneered online trading in 2000 and today, 40 per cent of the company’s business is through the internet. The company’s presence in West Asia grows with several joint ventures and partnerships. IT remains one of the strongest points for the company and although A Balakrishnan, CTO, Geojit BNP Paribas Financial Services feels there is some time before cloud computing picks up in India, there are needs where it fits the bill. Excerpts from an interview:
How advanced is Geojit BNP Paribas Financial Services Pvt Ltd when it comes to technological infrastructure?
We have a robust technology infrastructure to cater to our wide variety of channel requirements. We have one of the best Order Management System (FLIP), which integrates all transactions executing through various channels such as branch network (dealers work stations), internet (web-based application), mobile trading solutions and tele-trading systems (call centres).
Our initiative in mobile trading systems (as a pioneer) and the application deployed obtained various awards and recognition in 2010-11. Today, 5 per cent of our transactions are executed through mobile applications.
Another important step we have taken is to reduce IT operating expenditure. Bandwidth optimization, middleware migration from Weblogic to JBOSS, Linux deployment, virtualization and so on have resulted in substantial reduction of operating costs, without compromising on quality and performance. In today’s troubled times, these are well appreciated initiatives. We have consolidated a significant number of servers with sufficient redundancy by virtualization. We have also released new trading products on our platform, with the approval of BSE, called Smart Plus. This was a well fit retail trading product in the uncertain times of the market.
As an expert in the area, what do you think attracts professionals to cloud computing, with particular reference to India?
Few years back business and IT were talking about application services. Due to many infrastructural and security reasons, it didn’t work out as expected. Today, many technologies such as virtualization, multi-threaded applications and so on, have matured. At the design stage itself, architects are taking care of multi tenancy. I believe that the most important aspect of the cloud computing is providing multi-tenant application in a secured environment.
Being in financial services, we have many issues to be resolved and reconciled. Present regulations do not permit us to completely outsource application services. Service-level agreement (SLA) is another major issue. Security of transaction data and customer information is a matter of concern as well. I feel cloud computing needs to be matured enough to get adopted in financial services. Throughput and bandwidth are still matters of concern for the entities with branch networks (small and mid-towns).
The possible areas where we may explore the technology is HTTP proxy on cloud and hosting of static content Cloud might also be more relevant for tablet/iPad users. It can also be used as a repository of profile for mobile users. Take the customized front end, for instance. Also, it may make sense to move non-core applications to cloud initially.
How can cloud providers imbibe trust in people about the service?
Case studies of successful cloud implementation with multi-tenant transaction rich applications will really help as will SLA conditions. Also, there needs to be clarity on what precautions will be taken as far as data is concerned in case an organization wants to change the service provider.
You mentioned apprehensions about the concept, which you want to resolve before adopting it. What are these?
There is no apprehension about the concept. The apprehension is on the implementation or utilization of cloud services in the core business. Also compliance issues.
As an IT person, how do you see the concept of cloud picking up in India? How can the service providers work on the glitches and hiccups of the same, if any?
There is lot of hype on cloud services. We have to filter it out and understand where the concept will aptly fit. I am sure for certain services we can depend on cloud. Large organizations can certainly create private cloud for its employee’s services, certain customer services and so on. Service providers should work on creating awareness among business teams, demonstrate security standards and IT infrastructure governance.
