The financial sector’s need for data centers is growing at a rapid pace as data continues to explode amid the COVID-19 pandemic, and the rise of technologies like cloud and edge computing. A new report from Stream Data Centers highlights how the data industry company and leaders of one of the nation’s larger commercial banks joined forces as part of a comprehensive data center consolidation plan. The pair ascertained the need for a new core build-to-suit data center that would complement the bank’s primary Tier IV data center and executes the project.
The bank leader, with over $500 billion in assets, needed the perfect partner for the project. According to the report, in the competitive and highly regulated banking industry, demands on financial institutions come “not only from customers, but from regulators and shareholders.”
“In fact, the financial services sector is one of the most heavily regulated industries in the nation,” Stream Data Centers pointed out.
And bank leaders often have the sometimes challenging responsibility to ensure that expenditures are “justified and add value” to the business and its customers.
The new case study explores how a collaborative partnership with Stream Data Centers gave the bank “the security and control of a standalone facility and the ability to specify the design, build and ongoing operation of a dedicated data center building that incorporated the most critical elements of the existing customer-built facility.”
As the partnership kicked off, Stream and teams from the bank toured each other’s facilities to study operational practices and efficiencies, and reviewed methods of procedures and strandard operating procedures to hone best practices for the project as a whole.
“Stream was able to work within the bank’s change management systems and adhere to established protocols for the project. This capability to integrate reporting systems, adopt the bank’s MOP/SOP documents and adhere to best practices was crucial.” — Stream Data Centers
The project was completed in less than a year, creating savings the bank in capital expenses, as well as creating shareholder value with a reduced total cost of ownership (TCO).
Download the full report, “Case Study: Financial Services Build-to-Suit Data Center — Strength through Flexibility,” courtesy of Stream Date Centers, to explore how a leader in the financial sector and Stream Data Centers partnered to successfully complete a build-to-suit data centers to fit a banking giant’s specific needs.