Lakshmi Vilas Bank implements MPLS architecture
Lakshmi Vilas Bank (LVB) has become the first bank based out of Tamil Nadu to have achieved 100 percent Multiprotocol Label Switching (MPLS) architecture. The migration was completed in 45 days with the active involvement of BSNL and technology partner, Wipro.
"The full implementation of MPLS will substantially reduce the network operating cost as well as provide higher availability of the network for the branches. It will also lead to better performance of the application at branches due to lesser congestion of the network," said K.S.R. Anjaneyelu, MD, Lakshmi Vilas Bank.
LVB in also in partnership with Nasscom and the Data Security Council of India to help the office of the CB-CID in Chennai to set up a ‘cyber lab’ to train police officials on cyber crimes. The bank has been offering various technology products and delivery channels including NEFT, RTGS, SMS Alerts, SMS Pull Services, Net Banking, ATMs Mobile Payments and E-commerce.
"With 100 percent MPLS architecture, the Bank will do away with about 21 Hub locations across the country and save on the maintenance and operational cost of these hubs. We will also be able to save cost by redeploying the network equipment at these centres to other centres," said Murali Nair, CTO, Lakshmi Vilas Bank.
- How Artificial Intelligence Is Changing Diwali Shopping
- How Top E-tailers Are Gearing Up For Festive Sale
- Why Artificial Intelligence Is Poised To Disrupt E-Commerce
- Hiring To Pick Up In Next 6 Months: Report
- How Algorithms Are Revolutionizing Lending Business
- India's E-Commerce Battle Heats Up During Festive Season
- Bank Branches Will Not Die Anytime Soon: Study
- Google, Airtel Push UPI-Based Digital Payments Market
- The Future Of Banking Is Paperless, Say Experts
- Affiliate Marketing 101 – The What, Why and How