NSE selects Cisco solutions for enhanced CX, process automation, analytics and cybersecurity
The banking and financial services industry is in the midst of an evolutionary shift. The pressing realities of agile ‘fintech’ disruptors, changes in customerbehavior and expectations, complex regulatory requirements, and digitization throughout the business model are affecting the banking and financial services industry at every level. To keep up with this change, the industry is working to adopt innovative digitizationmodels to remain on top of costs, increase revenue, and protect themselves against risks all at the same time.
New services enabled by digital technologies can help banking and financial firms to maximize the value they offer to thecustomers. According to a recent Cisco study, these digital opportunities make financial services the No.2-ranked industry in terms of Digital Value at Stake, with an estimated $3.14 trillion up for grabs over the next decade. However, this will require aconvergence of mobility, analytics, and video to create delightful experiences and effortless transactions for the customers. It will also allow the industry to move away from legacy and paper-based approaches thereby enabling improved delivery of servicescost-effectively.
In line with its commitment to digitize the financial services sector in India, Cisco developed a Digital TransformationBlueprint for the banking & financial services sector. The blueprint leverages the power of Cisco’s intent-based networking portfolio to integrate connectivity, security, automation, collaboration, and analytics across the business value chain. It will deliverenhanced customer experience, improved workforce productivity, build new business models and protect against risks by bringing in connectivity and visibility into every aspect of the organization.
Sankarson Banerjee, Chief Technology Officer, National Stock Exchange said,“Our vision is to adopt the latest technologies to deliver greater value to our customers and employees as well as build trust and investor confidence. Digital Innovationsin technology are going to transform the financial services sector as we know them. Institutions that are quick to embrace innovation and adopt new technologies will have immense opportunities to improve the way they deliver services. We are pleased to beworking with Cisco to further modernize our digital capabilities and give our customers the best experience possible. Digital initiatives are core to NSE’s strategy of leveraging technology to deliver "the future" to our clients today”.
The National Stock Exchange (NSE) is leveraging Cisco’s ultra-low-latency trading architecture to deliver high-performance trading experiences, greater control, and visibility to its members. Cisco has also completely automated NSE’s data center, helpingit reduce app deployment time from weeks to hours. Optimising NSE’s network with Cisco ACI has allowed it to reduce overall efforts by 15-18%. NSE is also leveraging Cisco’s AppDynamics platform to monitor the performance of core applications and get real-timeanalytics for business performance to deliver superior end-user experience.
Cisco is leading the disruption in the industry with its technological innovations in systems, silicon, software and security,and unrivaled expertise in mass-scale networking, automation, analytics, video, wireless and mobility. Combining these capabilities with Cisco’s portfolio of go-to-market, security, collaboration, IoT, and professional services capabilities, it is enablingfinancial services companies across the world to reduce cost and complexity, grow revenue and more importantly to help secure their network and customer data.
Sameer Garde, President, Cisco India and SAARC said,“Today financial institutions experience an unrelenting need to be flexible, secure and scalable across increasingly complex data centers. In addition to gaining performance and operational efficiencies, Cisco ACI has enabled the National Stock Exchangeto manage it’s infrastructure and data repositories, which is critical when handling sensitive customer and financial data. In addition to that, with AppDynamics, NSE will have complete visibility spanning from the infrastructure to application to end user,thereby offering a superior end-user experience.From a trading perspective, speed, efficiency, and data accuracy are critical for investors, and thereforewe are delighted that National Stock Exchange has partnered with Cisco to power their digital transformation journey’.
