City Network brings OpenStack cloud hosting to the financial services sector with Canonical

City Network is the first European hosting provider to offer Openstack to its customers. This is the largest deployment of Openstack-based public cloud nodes in the world and is a key step forward in putting core banking systems into the cloud.

City Network has partnered with Canonical to give the option to sell Ubuntu Advantage on to its own users. This opens up additional revenue streams for City Network, and enables its customers to enjoy direct support from Canonical. Johan Christenson, CEO of City Network, said: “Banks and insurance companies demand a very high level of security and support. So being able to offer Ubuntu Advantage is critical for us.”

So far, City Network has transitioned seven data centres over to Openstack on Ubuntu, and is already seeing considerable benefits it claims. Since Ubuntu is so much easier to work with, City Network’s employees are significantly happier. The company’s operating costs are also lower, and it is able to pass on these saving to its users.

“Recently, one of Sweden’s leading banks engaged us to host the infrastructure for the heart of their business,” confirms Johan Christenson. “This is the first time City Network will be hosting the mission-critical applications of such a large bank, and Ubuntu was essential in securing the deal. Like us, Canonical are nimble and fairly priced – so together we can provide the flexibility that the bank requires, combined with compliance and value.”

“We’re delighted to be working with City Network to bring the OpenStack platform to the financial services sector,” says Mark Baker, field product manager at Canonical. “OpenStack on Ubuntu meshes perfectly with City Network’s tailored, agile approach to the cloud, and it’s so rewarding to see positive results already for employees and customers alike.”

There has been a huge rise in the popularity of infrastructure-as-a-service (IaaS). Yet, for many businesses, stringent laws and regulations make it difficult to adopt IaaS while remaining compliant. This is a problem in particular for highly regulated sectors such as financial services, but with the EU general Data Protection Regulation looming, compliance is becoming an increasingly widespread concern.
Today, agility is the key to business success. Companies in every industry are striving to deliver new services more quickly, and they are constantly looking for ways to increase the pace and cost-effectiveness of innovation.