In the banking industry, network reliability and speed are key. The ability to trade at ever faster speeds provides banks with a competitive edge, while 100% uptime is a necessity for any company with mission critical operations. These twin requirements of speed and resilience place increasing pressure on the underlying network and, when combined with evolving technology and the steady transition to more cloud-based services, connectivity between data centres finds itself under the microscope more than ever before. It was the combination of these factors that resulted in MUFG’s decision to upgrade to a faster, more reliable optical network.
MUFG undertook a thorough market evaluation before deciding on a new network partner. As part of this process, SSE Enterprise Telecoms hosted an in-person demonstration at its state-of-the-art network operations centre, where it showcased just how resilience forms an integral part of the company’s service offering. This industry-leading resilience, together with SSE Enterprise Telecoms’ points of presence in the major data centres serving London’s financial community, meant it was the perfect fit for MUFG, giving it enough confidence to change suppliers.
Mitsubishi UFJ Financial Group Inc (MUFG) now has two 10Gbps diverse optical wavelengths between two of its most strategically placed data centres in the South East, thanks to SSE Enterprise Telecoms. The new high capacity network – which is based on market leading technology from Ciena – provides MUFG with some of the fastest connectivity within the City of London’s investment banking sector. From real time financial reporting to collaborative working; all of this can now be completed seamlessly and reliably over a low latency network that has been specifically engineered to deliver maximum resilience as well as high capacity.
This marks the start of a growing partnership between the two companies, and one where SSE Enterprise Telecoms is closely focused on understanding MUFG as a business, rather than simply delivering its network requirements on an ad hoc basis. With numerous mission-critical projects being considered at any one time – all of which impact future connectivity requirements – agility and scalability were the crucial deciding factors in the bank’s selection of a network provider. It could not afford to take any risks that could impact business continuity, both now and in the future. With the capability to light up to 40Gbps capacity, and both North and South routes giving the network resiliency, the partnership with SSE Enterprise Telecoms offers a risk-free route to growth.
The initial part of the project, to deploy two 10Gbps wavelengths, was deployed on time, on budget, and to the exact specifications laid out by the bank, allowing it to continue its revenue-generating activity without any concerns over network availability. With all key project milestones met, the bank was not only able to accurately forecast the costs and additional revenues associated with the network upgrade, it also has the confidence that SSE Enterprise Telecoms will not fall short of expectations on any future deployments.
Due to the bank’s excellent experience of working with SSE Enterprise Telecoms, the two companies are now in ongoing discussions to ensure the network is future-proofed for subsequent projects. In addition, the two companies are working together to identify where network upgrades would deliver operational improvements which could translate into significant return on investment for the bank.
Mitsubishi UFJ Financial Group Inc (MUFG), is one of the world’s leading financial groups with total assets of approximately JPY289 trillion (or US$2.4 trillion) as of September 30, 2015. MUFG’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges.
MUFG’s banking arm, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), is Japan’s premier bank, with a global network spanning more than 50 countries. It offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide.
In EMEA, MUFG has a presence in 20 countries with 29 offices and over 2,500 employees serving largely corporate and institutional clients. London serves as the regional headquarters for Europe, the Middle East and Africa, where the London branch became MUFG’s first European presence in 1952.