NEWS
FinTech companies set to explore new data storage locations to meet their sustainability goals
It showed that finance increasingly relies on data and energyintensive technologies , with Artificial Intelligence expected to be the technology that will be most vital to future growth , followed by Machine Learning .
Over a third of survey respondents had seen an increase of 50 %– 100 % in data usage and storage needs in the past three years and more than a third of the survey respondents predicted growth of at least two times in the next three years , with half of that group expecting an increase of more than five times .
FINTECH Circle , in partnership with Bulk Data Centers , has released a report that found that FinTech companies , growing concerns about their environmental impact is a major factor in determining where to store their data .
“ From embedded finance , digital assets including cryptocurrencies , trading platforms and global payment solutions , FinTech is disrupting and reshaping our lives ,” said Susanne Chishti , CEO of FINTECH Circle . “ Central to this growth is where companies process their large volumes of data and our survey shows that the majority of companies have explored or plan to explore alternatives to their current data storage infrastructure .”
In a survey of senior executives in the FinTech and financial services sector , the report – The Data Usage Barometer – explores the broad trends taking place across FinTech .
Half of the respondents said they are concerned about their company ’ s environmental impact and an even higher number agree that lowering their firm ’ s carbon footprint is an ethical concern .
PPC lights up fibre broadband connectivity in Greece with Adtran
Adtran , a leading provider of nextgeneration open networking and subscriber experience solutions , has announced that Greece ’ s biggest power utility , Public Power Corporation ( PPC ), is leveraging the Adtran end-to-end fibre broadband solution to launch its pilot highspeed wholesale network in the municipality of Peristeri , within the region of Attica . When expanded nationwide , PPC plans to support all local broadband service providers and connect over 3 million homes and businesses with fibre over the next four years .
PPC has approximately 6 million electricity customers , making it a leader in the wider market of south-east Europe . Supporting the utility ’ s current sustainability , digitisation and growth initiatives , PPC wanted to deploy a future-proof , nationwide wholesale fibre network to expand its business opportunities and help connect its country to higher broadband speeds .
PPC selected the Adtran open , disaggregated 10G fibre access platform to deploy its pilot broadband access network infrastructure . In the first phase of PPC ’ s fibre deployment , it is deploying PON technology across its existing power distribution network infrastructure to deliver wholesale gigabit services . Later , it can use the same fibre access network to introduce smart grid and other advanced grid modernisation applications to improve power network efficiency and operations .
“ We value Adtran ’ s experience in working with utilities to help launch greenfield broadband networks that deliver high-speed services and help further modernise and optimise the power distribution network ,” said Alexandros Paterakis , Deputy CEO at Public Power Corporation .
18 INTELLIGENTCIO EUROPE www . intelligentcio . com