Yotta NM1 - Unlocking Digital Transformation in the BFSI sector for The Municipal Co-op Bank Ltd
The Municipal Co-op Bank embarked on a transformative digital journey of enhancing its digital posture to overcome critical challenges facing them in the realm of IT Infrastructure, Disaster Recovery Readiness, and Cybersecurity, while also ensuring resilience and scalability for the future with Yotta's Solutions, thus resulting in opportunities for growth and innovation. Yotta helps The Municipal Co-op Bank overcome challenges
About the Company
The Municipal Co-op Bank Ltd was founded in 1952 by the late Shri B.K. Patel, I.C.S., Ex- Municipal Commissioner. With 21 branches across Mumbai, the objective of the bank has always been to scale its branch offices in Greater Mumbai, inculcating digital transformation & innovation, while also making the banking facilities available for municipal employees & give ancillary banking services to the Municipal Corporation.
Municipal Co-op Bank Ltd: A Legacy of Trust, A Need for Modernization
In the fast-evolving landscape of finance, The Municipal Co-op Bank Ltd stood at the crossroads of tradition and innovation. Faced with formidable challenges in infrastructure, disaster recovery readiness, and cybersecurity, the bank knew it needed a transformative digital journey. The bank was looking to migrate to a Tier IV certified Hyperscale Data Centre that could help it achieve its objective to enhance its operational resilience and ensure robust data management through the procurement of Data Center colocation and Disaster Recovery (DR) Hosting Services with Managed Services, that could guarantee a minimum of 99.95% uptime. The bank also sought to migrate its core banking application to a third-party data center on an OPEX model, encompassing security, and networking requirements tailored to the bank’s core banking system and other specified applications.
Requirements
The Municipal Co-op Bank Ltd needed to enhance its IT infrastructure to support growing operations and deliver seamless digital banking services to its customers. The bank also sought to improve its disaster recovery readiness to ensure business continuity and bolster its cybersecurity measures to protect sensitive data and maintain customer trust.
Solutions
Yotta provided a hybrid cloud solution tailored to the bank's needs, offering dedicated servers within NM1 data center, a Tier-4 certified facility, ensuring 99.999% uptime and robust security. The solution included disaster recovery capabilities with an RTO of less than 4 hours and near-zero RPO, physical and logical security measures, and comprehensive managed services, enhancing infrastructure scalability and resilience.
Savings
By migrating to Yotta NM1, The Municipal Co-op Bank Ltd achieved a reduction in annual IT management costs, allowing MCB to redeploy resources for strategic initiatives.
The Challenge Quantifying the Need for Transformation
The bank recognized the potential for growth and innovation in the digital banking category but faced challenges with its existing IT infrastructure. These challenges presented opportunities for improvement, including:
1. Infrastructure Enhancement: The bank sought to modernize its infrastructure to support its expanding operations and deliver seamless digital banking services to customers.
2. Disaster Recovery Readiness: Recognizing the importance of business continuity, the bank aimed to strengthen its disaster recovery capabilities to mitigate risks and ensure uninterrupted operations.
3. Cybersecurity Resilience: With the rise of cyber threats, the bank aimed to bolster its cybersecurity measures to safeguard sensitive data and maintain customer trust.
Yotta NM1 Data Center A Partner for Quantifiable IT Transformation
The Municipal Co-op Bank Ltd partnered with, a leading provider known for secure, scalable, and managed data center solutions. Yotta conducted a thorough assessment, identifying the bank’s specific needs and quantifying the potential benefits of a modernized approach.
The Municipal Co-op Bank Ltd.’s Digital Transformation Journey
Yotta proposed a hybrid cloud solution that addressed the bank’s challenges with quantifiable improvements. Yotta designed a secure and scalable infrastructure architecture for the bank with dedicated servers within our Tier-4 certified NM1 data center, ensuring 99.999% uptime and incorporating 15 layers of physical security. The solution leveraged Yotta’s private cloud environment with disaster recovery capabilities to ensure business continuity. The design included a variety of devices such as routers, switches, server load balancers, servers, shared storage, backup systems, and virtual compute instances deployed on shared infrastructure. This infrastructure was secured with firewalls and a DDoS protection system to safeguard the MCPs-defined bank applications.
Yotta also deployed physical database servers on a private cloud rack with the operating system configured. Application servers were deployed as virtual machines on Yotta’s cloud platform and connected to the database servers using Yotta Xpress Connect. Application traffic was routed from the cloud to dedicated load balancers and firewalls. DDoS-protected internet bandwidth was provisioned and extended on the dedicated firewall. The bank’s MPLS links were configured on Cisco routers.
To maintain the bank’s business continuity between the primary and disaster recovery data centers, data replication from the primary database server to the disaster recovery center was implemented using native capabilities. Yotta’s approach to security for MCBs involved a layered strategy including physical separation of network components, logical security zones, VLAN segmentation, a Demilitarized Zone (DMZ) for web servers, and logical data separation between the application, database, and management layers. To further enhance the bank’s digital security, Yotta also deployed security solutions for in-depth security analysis, including Security Incident and Event Management (SIEM), and implemented proper access control and password policies via Active Directory authentication.
“Partnering with Yotta has been a game-changer for The Municipal Co-op Bank Ltd. The migration to Yotta NM1 Data Center has not only strengthened our IT infrastructure but has also significantly enhanced our disaster recovery readiness and cybersecurity measures. Yotta’s hybrid cloud solution has provided us with unparalleled uptime, robust security, and scalability, enabling us to focus on growth and innovation. The quantifiable improvements in business continuity and reduced IT management costs have been truly transformative for our organization.”
Varsha Mali – Director
The Outcome: Quantifiable Improvements for Business Continuity
The successful migration of The Municipal Co-op Bank Ltd.’s core banking system to Yotta NM1 has yielded significant, quantifiable benefits:
Enhanced Security: Yotta’s robust security measures and managed services have demonstrably reduced MCB’s security risk profile.
Improved Business Continuity: The automated DR solution ensures an RTO of less than 4 hours and an RPO of near-zero data loss, minimizing potential financial losses in case of a disaster.
Increased Scalability: The hybrid cloud environment offers the flexibility to accommodate the bank’s projected data growth for the next five years.
Reduced IT Costs: Yotta’s managed services resulted in a reduction in annual IT management costs, allowing MCB to redeploy resources for strategic initiatives.
Conclusion:
MCB’s successful migration to Yotta NM1 serves as a case study for financial institutions seeking to modernize their data center infrastructure, significant improvements in business continuity, disaster recovery, and overall IT efficiency.