Thursday, October 22, 2020

GIC AND STANDARD CHARTERED BANK NAMED WINNERS OF THE RED HAT APAC INNOVATION AWARDS 2020 FOR SINGAPORE

 Recognized for their transformative projects and technological achievements experienced through the use of Red Hat's open source solutions



SINGAPORE, Oct 22 (Bernama-BUSINESS WIRE) -- Red Hat, Inc., the world's leading provider of open source solutions, today announced the winners of the Red Hat APAC Innovation Awards 2020 for Singapore. GIC and Standard Chartered Bank were honored at the Red Hat Forum Asia Pacific 2020 today for their exceptional and innovative use of Red Hat solutions.

In response to the recent global events that are causing consumer shifts, many organizations are accelerating their digital transformation efforts to adapt. In a November 2019 study sponsored by Red Hat, 95% of APAC executives surveyed said digital transformation has gained importance1 and perceived it as a strategy for both survival and growth in the new normal. This has increased the need to use innovative technologies to create new business models, products or services.

Since there is no one-size-fits-all blueprint for digital transformation, this year’s Red Hat Forum Asia Pacific aims to inspire organizations to unleash the power of open source technologies to achieve their short-term goals and future-proof their business for the next normal. To support that, the Red Hat APAC Innovation Awards 2020 recognize the technological achievements of organizations that demonstrate creative thinking, determined problem solving and creative use of Red Hat solutions to make a difference in their business, industry or society.

The winners were selected based on the impact of their Red Hat deployments on their business goals, industry and communities, as well as the uniqueness of vision for the project. They displayed how open source platforms and culture have helped them improve productivity, agility and cost savings, while empowering them to address future challenges and emerging trends more confidently and effectively. This year’s awards honored 27 APAC organizations across five categories: digital transformation, hybrid cloud infrastructure, cloud-native development, automation and resilience. This year’s winners for Singapore include:

Categories: Digital Transformation and Cloud-Native Development
Winner: GIC Private Limited (GIC)

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC employs more than 1,700 people across 10 offices in key financial cities worldwide.

The Technology Group in GIC leads innovation and transformation within the organization, and develops holistic solutions to enhance GIC’s investment decisions and operations.

As part of a digital transformation roadmap, the Technology Group embarked on an effort to use container-based technology, to develop and deploy applications and business solutions in a more efficient, more secure and scalable way. Through the development of applications grounded in a container platform and microservices architecture, cloud-native first was identified as an integral capability for this project.

GIC deployed Red Hat OpenShift Dedicated as its fully-managed enterprise grade container platform on AWS to host some of its critical IT solutions, complemented by other solutions, Red Hat Ansible Automation Platform and Red Hat Enterprise Linux. As a result, GIC was able to create a robust and scalable infrastructure with predefined service-level agreement (SLA), reduce its total cost of operations over the long term, develop more efficient processes and enhanced security.

Category: Digital Transformation and Cloud-Native Development
Winner: Standard Chartered Bank

Standard Chartered is a multinational banking and financial services company. It operates in 60 markets and employs around 86,000 people.

The bank needed to transform and disrupt emerging markets by ramping up its digital capabilities for its online and mobile banking channels. It also aimed to provide better customer satisfaction in regions with increasing digital penetration like GCNA (Greater China & North Asia), ASA (ASEAN & South Asia) and AME (Africa & Middle East). To achieve these goals, it adopted Red Hat OpenShift, Red Hat Enterprise Linux, Red Hat JBoss Enterprise Application Platform, Red Hat JBoss Web Server and Red Hat Fuse to increase productivity and develop and deploy applications faster.

The bank’s RPBWM (Retail, Private Banking & Wealth Management) Digital Channels team, supported by Red Hat Consulting, was able to utilize Red Hat OpenShift to accelerate the revamp of the legacy channel applications (internet banking and mobile banking) into a microservices driven, cloud-native solution.

By adopting Red Hat OpenShift, the bank saw a reduction in infrastructure cost, the ability to scale up and support a several-fold increase in traffic, reduced time to deploy and go-to-market for applications, and a greatly simplified production rollout and recovery process.

The platform also played a critical role in the rapid roll-out of digital banking capabilities for several countries in the AME region by improving overall time-to-market and reduced total cost of ownership.

The Digital Transformation category recognizes organizations that have successfully addressed IT challenges and delivered business value to effectively compete as a digital enterprise. The Cloud-Native Development category showcases agile methodologies and organizations that have most successfully illustrate superior overall performance in creating, maintaining and deploying successful business applications.

Supporting Quotes

Dirk-Peter van Leeuwen, senior vice president and general manager, APAC, Red Hat
“2020 has been a year of uncertainties – but also possibilities. It’s inspiring to see how organizations in Asia Pacific are using open source to quickly and effectively meet changing market landscapes and consumer demands. Congratulations to this year’s winners, who we believe will become role models to other organizations looking for ideas to transform their business. We look forward to working with our customers to help them address the many real challenges our customers face today, and unlock the unlimited possibilities of taking the business forward.”

Khor Hwai Siang, head, Architecture & Solution Delivery, Technology Group, GIC
“GIC’s Technology Group drives digital innovation to enhance our investment decisions and operations. Using Red Hat’s cloud-native solutions has enabled us to holistically improve our business infrastructure, which has in turn enhanced the efficiency and security of our operations.”

Paul Beresford, global head, Retail Banking and Channels - Technology, Standard Chartered Bank
“As a multinational bank, Standard Chartered has the responsibility of providing a seamless digital experience so our customers across Asia, Africa and the Middle East have access to easy and convenient banking services. With the scalable and consistent cloud-native platform developed on Red Hat OpenShift, we are able to achieve optimal operational efficiency, allowing our teams to best serve our customers.”

Additional Resources
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About Red Hat, Inc.

Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company or its parent International Business Machines Corporation (NYSE:IBM) may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

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1Harvard Business Review Analytic Services Briefing Paper for Red Hat, “Understanding APAC’s Success in Digital Transformation”, July 2020 https://www.redhat.com/en/resources/APAC-digital-transformation-HBR-analyst-report

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20201021005391/en/

Contact

Media:
Pinal Patil
pinal@redhat.com
+65 - 91083044

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