What’s InfoArchive? It’s is a unified archiving platform capable of storing very large amounts of related structured and unstructured content in a single repository. When utilized, our customers can reduce the risk of long term information retention associated with regulatory and policy compliance within a single consolidated archive. It also improves application performance and reduces data center costs by archiving high-volume static information. Lastly, it eliminates the overhead of legacy and duplicate applications while retaining valuable information in an easily accessible unified archive.
As a brief background, a European bank needed to build a compliant archive for both
transaction documents as well as structured data from core banking applications and the ultimate solution needed to support archiving for high volume transactional data commonplace in this banking arena. In short, it needed to scale to archive billions of objects. So, it was InfoArchive that was deployed to archive high volumes of regulated static information. The product met the scalability needs as well as delivering a next-generation platform built on open and accepted archiving standards.
Recently, EMC InfoArchive was recognized as a “Visionary” in Gartner’s Structured Data Archiving and Application Retirement Magic Quadrant and as a Trend-Setting Product of 2014 by KM World. So why is InfoArchive such a “big deal”?
I feel the easiest way to sell anything to a financial institution is to deliver a transformational solution that can be justified via a CBA (Cost Benefit Analysis) approach. This can be accomplished from a bottoms-up and / or a tops-down sales methodology. An example of the former, application decommissioning and records management initiatives can be upper mid-leveled sponsored by our customers from a budgetary basis and fairly easily quantified. Each of these approaches can be utilized to create customer value with a phased approach leading to an enterprise InfoArchive solution.
A tops-down approach can be launched with the C-Level leadership with a more holistic objective; addressing decreased IT budgets, reducing compliance and regulatory issues as well as saving on storage costs.
90% of the world’s data was created in the last two years. Think about the amount of data being created each new day for the top twenty global banks; how on earth are they going to address this data tsunami?
The reality of reduced IT budgets is upon us; every CIO is being asked to do more with less. According to the US Chamber of Commerce, 90% of the world’s data was created in the last two years. Think about the amount of data being created each new day for the top twenty global banks; how on earth are they going to address this data tsunami? In addition, how can a bank quantify the aggregate amount of fines and penalties they will incur if they don’t do something to proactively address this issue? The approach of many large banks is when in doubt, save EVERYTHING! In many cases, that in itself is a compliance violation.
So what’s the answer? InfoArchive ensures better compliance, achieves storage savings and the ability to scale with an inordinate amount of data being added at a record-setting pace.
InfoArchive – a Measurable Value Proposition
What’s in it for you? Take for example a large bank that has about 150 PBs of data. What’s their best option? It is to proactively address their compliance needs and application decommissioning issues and while doing so, save 34% of their current storage costs. Saving one-third of storage costs is definitely transformative. But let’s not stop there: think about what Finance can save in terms of operational costs and the gains that can be achieved from risk mitigation and compliance. Now, we’re talking true transformation. Our proposal not only addresses their compliance and application decommissioning needs, but over a three year Term, we’ll save them at least 34% of their storage costs!
In summary, InfoArchive reduces operational costs, proactively addresses compliance and regulatory issues and significantly reduces storage costs. Why not join others like you and begin to transform your data enterprise today? Share questions you may have in the comments below. For additional InfoArchive information, contact your Information Intelligence Group Account Manager directly or by contacting EMC.