Norway’s national securities depository puts money on PaaS.

Financial services companies are increasingly looking to virtualized infrastructure, including Platform-as-a-Service (PaaS, so they can more quickly, efficiently and consistently deliver IT services. That’s what Verdipapirsentralen ASA (VPS) has done. Norway’s national Central Securities Depository has deployed a private, on premise PaaS solution based on OpenShift Enterprise by Red Hat.

As the only centralized securities depository in Norway, VPS provides and manages the critical infrastructure and services for securities transactions and ownership registration for shares, bonds, equity certificates, and funds. The depository delivers these services through a network of investment banks, brokers, banks and fund management companies that operate the individual accounts and regulate day-to-day access. VPS is using OpenShift Enterprise, which is built with open source technologies, to help accelerate the development and delivery processes within its existing IT infrastructure and boost operational efficiency across its development, test and production environments. The distributed application system meets the organization’s need for a stable and secure enterprise-grade solution, and because it’s built on standard, open source technologies, doesn’t restrict VPS to the technology or business roadmap of a specific vendor.

In a press release about VPS’ use of OpenShift Enterprise, Jarl Bruvoll, VPS’ head of IT infrastructure, said collaboration with Red hat and the use of OpenShift Enterprise “enables us to balance the need for a highly secure and trusted infrastructure with the need for a platform which can truly accelerate innovation and support us in our ambition to transform IT.”

VPS evaluated multiple PaaS solutions and ultimately chose OpenShift Enterprise to provide access to a cloud-based application platform. VPS developers can build the applications the depository needs and run them in a hybrid cloud architecture, both in VPS’ own datacenter and in the public cloud. OpenShift Enterprise automates much of the provisioning and management of the application platform stack so VPS’s IT operations team can more easily meet growing business demands for new application services. It also provides an on-demand, elastic, scalable and fully configured application deployment and runtime environment for application developers.

“We are proud to support VPS in transforming its IT infrastructure. As a top financial institution in Scandinavia, VPS appreciates the balance between business agility and security and reliability,” Ashesh Badani, VP and general manager, OpenShift, Red Hat, added in the release. “That they selected OpenShift as a strategic platform to help them achieve their strategic goals is not only a testament to OpenShift’s maturity, but also the platform’s ability to help customers balance innovation with enterprise requirements.”

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