Japan-based Daiwa Securities' internet bank, Daiwa Next Bank has selected Red Hat Enterprise Linux as its enterprise operating system for its core banking system in the wake of increasing scalability and performance of its mission-critical system.
The gradual migration from UNIX to Red Hat Enterprise Linux in nine months has allowed the company to reduce its technology costs by 50%.
Daiwa Institute of Research senior executive managing director Koichi Suzuki said that open source software was necessary for IT standardization to reduce cost, depart from vendor lock-in, and achieve reliable and stable operations.
The bank has also developed one of the first core banking system built in Japan with Red Hat Enterprise Linux based on the experience it gained while constructing its internal cloud called Daiwa Cloud, a common platform across the group.
Daiwa Securities Group operates core businesses such as retail and wholesale securities, asset management, investment, as well as system support and research services.