The agreement is to transform IIFL’s IT Infrastructure and establish a direct linkage between business performance and IT costs.
Under this agreement, IBM will take over the complete IT operations of IIFL which will entail managing over 700 IIFL branches spread across India.
The complete IT infrastructure at IIFL consists of more than 450 servers spread across five data centers and nine local server rooms with over 15,000 end user assets distributed across its branches.
The infrastructure also includes a wide area network that connects all IIFL offices to the corporate offices in Mumbai and the entire application stack that forms the core trading platform along with supporting enterprise applications.
IBM will also take over the entire application support for the custom built application stack, based on an co-managed support model with IIFL’s application team.
IBM will setup a centralized helpdesk, rollout a pan-India deskside services capability to support users, applications and infrastructure in branches, and deploy service management processes to cover assets, IT security, capacity, network, storage, incident /problem/change, and technology, among others.
IBM will further help IIFL in mitigating IT operational risks by reducing people dependency on operations, eliminating points of failure and by extending business value of existing applications.
IIFL offers advice and execution platform for the entire range of financial services covering products ranging from equities and derivatives, commodities, wealth management, asset management, insurance, fixed deposits, loans, investment banking, gold bonds and other small savings instruments.
