) or H-P recently announced that Philippines-based EastWest Bank
opted for its Converged Infrastructure portfolio. Financial
details of the deal were kept confidential.
Formed in 1994, EastWest Bank provides full-service commercial as
well as investment banking facilities across U.S. and Greater
China. The Bank has acquired a leading position in credit card
issuance and auto-loan processing. To maintain its leadership,
the Bank had no option but to opt for a competitive information
technology infrastructure for managing its operations.
With H-P's Converged Infrastructure portfolio, EastWest Bank
expects to expand its banking services and deliver utmost
customer satisfaction. After evaluating the cloud solutions
offered by tech giants such as
), EastWest Bank chose H-P's solutions to replace its legacy IT
infrastructure and transition swiftly to a private cloud
From the portfolio, the Bank selected 3PAR StoreServ T400 Storage
System and ProLiant DL360 Servers. EastWest Bank confirmed that
the end-of-day financial closing processing time has been reduced
by 40.0%. Also, there has been a remarkable reduction in data
recovery time i.e. from 4 hours to merely an hour.
We believe H-P's success with EastWest will bring in similar
deals as growing banking needs and their fulfillment would call
for advanced IT infrastructure.
Just a month ago, U.S.-based privately-held online payment
processing company, First Data Corp. opted for H-P's Converged
portfolio to boost its capabilities in handling growing demand
for e-commerce and online payments as well as remain competitive.
Demand for H-P's Converged suite is growing as it brings together
servers, storage and networking products to manage data centers
from a common platform. The Converged platform has been designed
to make data center handling simpler, more flexible, efficient
and cost effective.
Deal wins from different industrial sectors do not come as a
surprise but winning deals in the storage, server and software
areas is significant. While there may not be a remarkable
increase in near-term revenues, it could ultimately offset the
challenges in the PC business and competition from
Currently, H-P has a Zacks Rank #2 (Buy).
DELL INC (DELL): Free Stock Analysis Report
EMC CORP -MASS (EMC): Free Stock Analysis
HEWLETT PACKARD (HPQ): Free Stock Analysis
INTL BUS MACH (IBM): Free Stock Analysis
To read this article on Zacks.com click here.