Spice Money: Green Infrastructure at the Core
Spice Money is a rural fintech company. It leverages IT in a big way and is constantly searching for and adopting Green IT solutions. It prioritizes environmental responsibility alongside cost savings.
INFRASTRUCTURE EFFICIENCY
Spice Money has made significant strides in enhancing hardware efficiency by focusing on ENERGY STAR-rated equipment when selecting servers, storage, and networking devices. This careful procurement ensures that the technology they use is energy-efficient. Additionally, the company has implemented server consolidation, allowing multiple virtual machines to run on a single physical server, which significantly reduces overall power consumption.
In terms of software and power management, Spice Money has optimized its workloads to use fewer servers, consolidating underutilized ones to lower energy draw. The data center’s energy consumption is closely monitored, and corrective actions are taken as needed to maintain efficiency.
Varundeep Kaur, CIO at Spice Money, says: “Spice Money’s data center and cloud initiatives further underscore our commitment to sustainability. The data center operates in a tier 4 facility, utilizing 60% renewable energy. This LEED-certified building aims for carbon neutrality by 2030. Moreover, our data warehouse workloads are hosted on energy-efficient and environmentally friendly cloud services, contributing to our overall green IT strategy.”
ELECTRONIC WASTE MANAGEMENT
This story is from the July 2024 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2024 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap:
