Global financial solution provider extends delivery of its services in the region via Platform Equinix in Singapore
SINGAPORE - March 31, 2014 - Equinix, Inc. (NASDAQ:EQIX, news, filings), the global interconnection and data center company, today announced that Coreone Technologies has deployed in one of its International Business Exchange™ (IBX®) data centers in Singapore (SG2). The deployment will enable CoreOne Technologies to offer its VistaOne information management and reporting platforms to its growing international customer base in Asia-Pacific.
VistaOne, a subsidiary of CoreOne Technologies, delivers a leading financial platform that securely connects data from complex enterprise systems for the world’s leading fund administrators, prime brokers, hedge funds, investment banks, insurers, and asset and wealth managers. The deployment in Singapore serves as the second phase of CoreOne Technologies’ expansion strategy, which follows implementations in Equinix’s London, New York and Chicago data centers.
Highlights / Key Facts
- There is an increasing requirement for financial industry professionals to implement more information control and a general overview of their infrastructure across the Asia-Pacific region. According to a KPMG report on regulation driving business change, banks in the region face major challenges around data management, including the need to hold and use the right data to get much closer to their customers, and the ability to meet the wide-ranging and significant increases in demands from regulators and others for reporting and disclosures.
- CoreOne Technologies recognizes that firms need to improve capabilities related to data aggregation process, with the key gaps being attributed to a lack of data integration and workflow management across sources. VistaOne is designed to provide an independent repository and distribution framework to address these issues.
- While the initial deployment will focus on CoreOne Technologies’ VistaOne platform, Equinix will also enable the company to extend its prime brokerage and fund administration application services to the Asia-Pacific region.
- CoreOne Technologies selected Equinix for its proven experience working across multiple markets and its ability to adhere to local information security requirements such as the Monetary Authority of Singapore (MAS) Internet Banking and Technology Risk Management (IBTRM) Guidelines. As a result of its deployment in SG2, CoreOne Technologies meets regulatory requirements and bridges the gap between asset managers, regulators and financial communities in the Asia-Pacific region.
- With Platform Equinix™, CoreOne Technologies has access to a secure, power-dense, high availability and high connectivity data center to build a virtualized environment to handle core internal operations and deliver data management products and services to clients in Asia-Pacific.
- In SG2, as in London, New York and Chicago, CoreOne Technologies benefits from an agile and flexible infrastructure needed to deliver high performing solutions online and withstand customer data spikes.
- Direct access to more than 975 network providers and the ability to interconnect with more than 4,500 companies also using Platform Equinix enables CoreOne Technologies to efficiently serve its 300 different licensing entities around the world, and 150 websites accessing the VistaOne platform.
- Equinix’s global data center footprint of more than 100 facilities in 32 strategic markets also provides CoreOne Technologies with the ability to scale its services cost effectively into additional global markets when it needs to.
- Clement Goh, managing director, Equinix South Asia:
"This strategic deployment will provide CoreOne Technologies’ users with the data management tools they need to comply with financial industry regulations in the Asia-Pacific region, the same key benefit the company has realized for its clients through its Chicago, London and New York deployments. Our industry-leading colocation services, broad interconnection options to the world's top networks and access to an increasing number of large enterprises allow CoreOne to accelerate its growth and delivery of its services to users dispersed across the globe."
- Ishan Manaktala, managing director and global head, VistaOne:
"Launching from the Equinix IBX data center in Singapore positions CoreOne Technologies to provide our existing global client base with consistent performance across markets, as well as bring cost effective infrastructure options to new clients within the region. As a global solution provider, it’s critical that we leverage providers who have both the global connectivity and mature infrastructure capable of keeping pace with our growing client base: Equinix consistently delivers both the global reach and stability our customers require."
- Brian Rooney, senior vice president, Asia-Pacific, CoreOne Technologies:
"The deployment in Equinix’s data centers is a critical investment that will enable CoreOne Technologies to extend our prime brokerage and fund administration platforms into this region. Equinix provides an agile and flexible architecture that allows us to remain competitive in this dynamic market."
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.