Equinix accelerates Goodbody’s investment in digital transformation

Equinix, Inc., the global interconnection and data centre company,has announced that it is supporting Goodbody’s investment in evolving and growing its business. By leveraging Equinix Cloud Exchange Fabric (ECX Fabric) and Equinix’s data centre connectivity, Goodbody, Ireland’s leading institutional broker and corporate finance firm, is digitally transforming in a highly regulated industry, rolling out cutting-edge technologies for both its customers and employees.

As Ireland continues to see an influx of financial services firms setting up operations in the country, the market is becoming increasingly competitive. IDA Ireland reports that some 55 FinTech and financial services companies established a presence in Ireland in 2018. As a result, financial services firms with a presence in Ireland are looking to innovate at a greater pace while adhering to strict regulations. Interconnection – direct and private traffic exchange between key business partners – is proving fundamental to the industry’s digital transformation and the third annual Global Interconnection Index shows that Europe’s banking and insurance sector will see growth of 63% CAGR in the consumption of interconnection bandwidth by 2022.

In response to a flourishing market and changing customer needs, Goodbody has diversified from a stock brokerage firm to become a leading financial services firm operating in wealth management, investment banking and asset management. To facilitate its continued growth in each area, the company has invested in the development of digital solutions that rely heavily on high network performance, reliability, cloud connectivity and security.

Essential to this is ECX Fabric, which is allowing Goodbody to adopt the multi-cloud strategy necessary to interconnect with different cloud environments and innovate at the digital edge, where IT infrastructure is leveraged closer to consumers of data. By avoiding the public internet, ECX Fabric also provides security against DDoS attacks; enabling Goodbody staff to provide a full, secure service to customers from any location. Additionally, Equinix’s physical data centres in Dublin provide the backup and security required for business continuity.

Goodbody’s recently-launched Financial Wellbeing tool will help it to expand into new market segments by allowing users to take control of their finances with calculators relating to investment risk, life insurance and retirement planning. Hosted on Microsoft Azure via ECX Fabric, it provides a seamless user experience and is the first of a number of innovations Goodbody is planning to roll out as part of its investment in the customer experience.

The cloud-first approach to remote working has been a success, with 99% of Goodbody employees who work remotely stating in a recent survey that they believe robust mobility services are a key element in Goodbody’s overall business strategy. The company has also been named one of the Best Large Places to Work in Ireland for the last two years, citing the flexibility of remote working facilitated through cloud connectivity as a significant contributing factor.

Equinix’s data centres in Dublin support business continuity for Goodbody, acting as the IT backbone to all of Goodbody’s business, including its digital supply chain. Accreditations relating to data security provided by Equinix, such as ISO 27001 and ISO 22301, ensure IT solutions are aligned to recognised industry compliance standards and best practises.

Goodbody is facilitating continued customer growth by using ECX Fabric to connect to its CRM solutions. The Investment Banking side of the business is using a Salesforce-based solution, while Microsoft Dynamics 365 has been deployed for the wealth management business. Both solutions have been tailored by Goodbody to meet specific and very different requirements for these distinct businesses.

Stuart Halford, Head of Technology Services, Goodbody commented:

“Goodbody is on a journey to becoming one of the oldest, yet most technologically advanced, financial services institutions in Ireland. Customer and employee experience are key differentiators that will see us stay ahead of the competition. Part of that means creating market-leading solutions that are scalable into other business segments as we adapt and grow. We want to give customers a wonderful experience by making our services as seamless as possible, while also facilitating employee collaboration from any location at any time.

Maurice Mortell, Managing Director Ireland, Equinix added:

“As Ireland’s financial services ecosystem continues to grow, driven by location and regulatory challenges, digital transformation remains the catalyst for firms adopting a cloud-first strategy to accelerate their reach and fuel their growth. Goodbody has totally embraced the connected future by leveraging interconnection to the cloud to transform the employee and customer experience. We expect to see more financial services businesses do the same as the industry continues to transform and companies vie to be seen as disruptors.”

 

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