Global Banking Industry Stands to Benefit from Green IT Practices

Although banking is far from top-of-mind when the topic of green IT arises, the financial services sector is the industry with the largest IT footprint, rather than the Googles, Amazons and Microsofts of the world.

Because the energy consumption of the banking sector is so high, with its large-scale global infrastructure and constantly growing demand for storage and near-instant transaction, a new report from Fujitsu lays out just how well the financials services industries in four countries — the United States, United Kingdom, Australia and India — have adopted green IT practices.

“Increasingly, IT practitioners are realizing that the general term “Green IT” is about specific areas of operation, and that the key driver is cost. Energy costs, as a proportion of IT budgets, are increasing substantially in most countries,” Alison Rowe, Fujitsu’s Global Executive Director of Sustainability, writes in the report’s introduction. “Green IT is an obvious, and easy, way to improve the bottom line. This paper highlights areas where financial services can achieve this, by concentrating on IT efficiencies.”

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