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Indian Datacenter Market Is Expected To Grow At USD2.2 Billion In 2 Years

The BFSI industry prepares itself for the new wave as India’s rural population becomes the key target audience. With the advancements in innovation and technology, the untapped markets can be a boon for the datacenter market and financial institutions across the country

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The datacenter market is witnessing a huge growth worldwide. As India continues to transform digitally, the market here is expected to grow at $2.2 Billion in 2 years. Players in the BFSI community are now focusing on product innovation in finance. Changing trends in technology encouraged experts of the BFSI industry to gather thoughts and discussions at the 2nd BW Businessworld BFSI Cloud & Datacenter Summit 2018 presented by Cloud4C.

“It has been a learning experience for me at SBM while we underwent a transformational journey back in 2012. Today, the cloud is making some great innovations in the BFSI sector. Private and Hybrid cloud will witness quite a lot of acceptance in organizations but the challenge is to sync into a multi-country environment. Additionally, as a user community, we have seen most providers are pushing what they have. I feel that now is the time where banks must partner up with fintechs than selling as vendors. This is a forum where we can develop insightful discussions on the transformation of the banking sector as more and more startups are working on the financial technology,” said Sameer Khare, CIO, SBM during the inaugural session.

Muneebuddin Mohammed, Vice President, Cloud4C  addressed the audience about the challenges of the digital world. He brought out the solutions provided by Cloud4C as ‘Digital India’ drives the next wave of advancements with respect to cloud and datacenter. 

“I think we are a part of a digitally connected world and Cloud4C is a Ctrl S enterprise. Cloud adoption is going to be the need of the hour for enterprises across the country and we provide all types of cloud service and are the world’s only 4Copy Cloud. We are present in more than 20 countries and are a part of Gartner. Finacle banking today has proven to be quite successful as it provides single point accountability resulting in huge savings as well. Along with the products and services we offer, we have moved mobile banking of the world’s top banks to the cloud.”

“Visibility is the key to survivability. In today’s world, it is key to have visibility and to respond faster to threats. Organizations need to have a mechanism that can react faster to threats. F-Secure is not only an antivirus but end to end security solutions in our portfolio. Our focus is to manage and strengthen the critical and most vulnerable areas of businesses. The automated process allows us to explore beyond our client’s network for potential threats, discover network assets, scan systems & applications, central vulnerability management, PCI compliant vulnerability tracking and report status. Our services are available across 200+ operators and 4000+ clients where we continue to keep each and every one of them secure through IT Shadow,” said Debjyoti Guha, Head of Pre Sales (India and SAARC), F-Secure.

Speakers from tech companies and urban banking provided a set of ideas that could boost the BFSI sector especially in the top cities and regions across the country. However, co-operative banks are still fighting the obstacles like lack of power, technical workforce, and customer data. D Nageswara Rao, General Manager, NABARD discussed the challenges of rural banking and the expectancies of financial inclusions.

“Looking after finance in banking technology for many years, I feel it is very crucial to execute the roles of financial inclusions in remote areas as well. We, at NABARD, want to bring small banks together and provide seamless banking services to every person belonging to the untapped areas of the country. We aim to see that every bank reaches to every corner of India. Many banks in these areas face challenges like lack of technical workforce and management and management bandwidths and my job is to bring them together. The management of small banks doesn’t understand the nuances of the technical requirements. I request all the renowned organizations leading in the BFSI sector to impart financial education to rural India as the market depends on them.”

The special presentations along with the technology presentations gave way to the panel discussions on the inclusion of blockchain and cloud in datacenter. The summit proceeded towards insightful networking and discussions of new technologies in the Indian market at the 2nd BW Businessworld BFSI Cloud and Datacenter Summit 2018 presented by Cloud4C in Mumbai on the 26th of July, 2018. 

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