LB Finance, Huawei revolutionises banking infrastructure
View(s):LB Finance PLC, a premier non-banking institution in Sri Lanka and Myanmar, has announced a transformative alliance with Huawei to overhaul its core banking infrastructure.
This strategic collaboration is set to elevate LB Finance’s extensive suite of services, including Digital Wallets, Digital Banking, Loans, Leasing, Savings and Deposits, Microfinance, and Payment Cards, leveraging Huawei’s state-of-the-art technology, the organisation said in a media release.
As a cornerstone of this initiative, LB Finance has integrated Huawei’s OceanStor Dorado 5000 All-Flash storage systems. These cutting-edge, cloud-ready systems are designed to handle high-speed transactions, large-scale data processing, and real-time monitoring, ensuring the integrity and performance of critical data operations.
The Huawei OceanStor Dorado system replaced LB Finance’s existing storage infrastructure in November 2023 within just three weeks, seamlessly transitioning even during peak seasonal demand. Since the system went live, LB Finance has been migrating its production services and data, including virtual servers, databases, application servers, development environments, and AI/BI tools, to the new platform. This has resulted in significant enhancements in Input/Output Operations Per Second (IOPS) performance, stability, and response times, reducing operational pressures and significantly boosting customer satisfaction.
Sumith Adhihetty, Managing Director of LB Finance, said, “Huawei has delivered a swift and robust solution that meets a wide spectrum of client needs, reaffirming its position as a trusted partner. Their exceptional service has strengthened our confidence in this ongoing partnership, ensuring the dependability of our data centre. Huawei emerged as the preferred choice following a rigorous evaluation, demonstrating its efficacy in both production and secondary environments under demanding workloads.”
Noted Zhang Jinze, CEO of Huawei Sri Lanka: “Huawei is delighted to partner with LB Finance on their digital transformation journey. This partnership underscores our dedication to providing solutions that enhance efficiency and support future growth. Together, we aim to empower LB Finance to introduce pioneering digital products.”
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