Equinix propels Goodbody’s investment in digital transformation

DUBLIN, Ireland – Dec 5th 2019 – Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data centre company, today announces that it is supporting Goodbody’s investment in evolving and growing its business. By leveraging Equinix Cloud Exchange Fabric™ (ECX Fabric™) and Equinix’s data centre connectivity, Goodbody – Ireland’s leading institutional broker and corporate finance firm – is digitally transforming in a highly regulated industry, rolling out cutting-edge technologies for both its customers and employees.

As Ireland continues to see an influx of financial services firms setting up operations in the country, the market is becoming increasingly competitive. IDA Ireland reports that some 55 FinTech and financial services companies established a presence in Ireland in 2018. As a result, financial services firms with a presence in Ireland are looking to innovate at a greater pace while adhering to strict regulations. Interconnection – direct and private traffic exchange between key business partners – is proving fundamental to the industry’s digital transformation and the third annual Global Interconnection Index shows that Europe’s banking and insurance sector will see growth of 63% CAGR in the consumption of interconnection bandwidth by 2022.

In response to a flourishing market and changing customer needs, Goodbody has diversified from a stock brokerage firm to become a leading financial services firm operating in wealth management, investment banking and asset management. To facilitate its continued growth in each area, the company has invested in the development of digital solutions that rely heavily on high network performance, reliability, cloud connectivity and security.

Essential to this is ECX Fabric, which is allowing Goodbody to adopt the multi-cloud strategy necessary to interconnect with different cloud environments and innovate at the digital edge, where IT infrastructure is leveraged closer to consumers of data. By avoiding the public internet, ECX Fabric also provides security against DDoS attacks; enabling Goodbody staff to provide a full, secure service to customers from any location. Additionally, Equinix’s physical data centres in Dublin provide the backup and security required for business continuity.

 

Highlights/Key Facts

• Goodbody’s recently-launched Financial Wellbeing tool will help it to expand into new market segments by allowing users to take control of their finances with calculators relating to investment risk, life insurance and retirement planning. Hosted on Microsoft Azure via ECX Fabric, it provides a seamless user experience and is the first of a number of innovations Goodbody is planning to roll out as part of its investment in the customer experience.
   
• A combination of Office 365 – accessed via ECX Fabric – along with Equinix’s highly secure and highly connected data centres are enabling seamless employee remote working in Goodbody. Most (78%) of Goodbody employees are now incorporating remote working into their jobs. These employees are using Microsoft Teams on Office 365 to collaborate in and out of the office, while desktop and mobile devices used for remote working connect to Equinix’s data centres in Dublin and provide added security. This makes Goodbody employees highly flexible in terms of location and working hours.
   
• The cloud-first approach to remote working has been a success, with 99% of Goodbody employees who work remotely stating in a recent survey that they believe robust mobility services are a key element in Goodbody’s overall business strategy. The company has also been named one of the Best Large Places to Work in Ireland for the last two years, citing the flexibility of remote working facilitated through cloud connectivity as a significant contributing factor.
   
• Equinix’s data centres in Dublin support business continuity for Goodbody, acting as the IT backbone to all of Goodbody’s business, including its digital supply chain. Accreditations relating to data security provided by Equinix, such as ISO 27001 and ISO 22301, ensure IT solutions are aligned to recognised industry compliance standards and best practises.
   
• The rollout of new technologies relies on Goodbody becoming an agile organisation that can quickly adjust to changing business needs. That requires a faster pace of change and responsive applications that can be brought to market quickly. ECX Fabric allows Goodbody to privately interconnect with cloud providers at the digital edge, enabling fast transformation and highly responsive, secure and resilient technologies.
   
• Goodbody is facilitating continued customer growth by using ECX Fabric to connect to its CRM solutions. The Investment Banking side of the business is using a Salesforce-based solution, while Microsoft Dynamics 365 has been deployed for the wealth management business. Both solutions have been tailored by Goodbody to meet specific and very different requirements for these distinct businesses.
   
• To meet businesses’ sustainability requirements, Equinix subscribes to the EU Code of Conduct for Data Centres and now has more than 90% clean and renewable energy across its global portfolio. The company is committed to achieving the highest standards of energy management and complies with ISO 50001 and ISO 14001. Since 2015, Equinix has invested more than $100M in energy efficient upgrades, retrofits and improvements for its global data centre portfolio.

 

Quotes

• Stuart Halford, Head of Technology Services, Goodbody:

“Goodbody is on a journey to becoming one of the oldest, yet most technologically advanced, financial services institutions in Ireland. Customer and employee experience are key differentiators that will see us stay ahead of competition. Part of that means creating market-leading solutions that are scalable into other business segments as we adapt and grow. We want to give customers a wonderful experience by making our services as seamless as possible, while also facilitating employee collaboration from any location at any time.

“A combination of Equinix’s data centre connectivity and the multi-cloud interconnection enabled by ECX Fabric gives us the peace of mind to be innovative, while still complying with regulations.”

• Maurice Mortell, Managing Director Ireland, Equinix:

“As Ireland’s financial services ecosystem continues to grow, driven by location and regulatory challenges, digital transformation remains the catalyst for firms adopting a cloud-first strategy to accelerate their reach and fuel their growth. Goodbody has totally embraced the connected future by leveraging interconnection to the cloud to transform the employee and customer experience. We expect to see more financial services businesses do the same as the industry continues to transform and companies vie to be seen as disruptors.”

 

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Additional Resources

Global Interconnection Index Volume 3 [market study]

Photo caption

Pictured announcing Equinix's acceleration of Goodbody's investment in digital transformation are (L-R): Maurice Mortell, Managing Director Ireland, Equinix; and Stuart Halford, Head of Technology Services, Goodbody

About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures. www.equinix.com.

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 data centers and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; a 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; risks related to our taxation as a REIT; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix 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.

 

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Media Contact
Helen Morrogh
Comit (For Equinix)
+353 1 215 7575
helen@comit.ie