Established in 1997 as Vanik Bangladesh Securities Ltd., LankaBangla Securities Ltd. (LBSL) was rebranded in 2005 as a subsidiary of LankaBangla Finance Ltd., a leading nonbanking financial institution in Bangladesh. For the past seven consecutive years, LBSL has been the largest stock brokerage house in the country, and, in 2012, it was ranked number one for sales and transactions on the Dhaka Stock Exchange and the Chittagong Stock Exchange, respectively.
LBSL was the first company to introduce a financial web portal and automated order-management system for trading services in Bangladesh. These enable the company to provide the most efficient and comprehensive trading platform and services, including giving investors and shareholders direct access to market and online trading information.
LBSL used database, server, and storage systems from different vendors for its trading platform, which created compatibility issues. With scarce IT resources in Bangladesh, it was a significant challenge to get cooperation and one stop service from multiple vendors. In addition, LBSL looked to improve database availability to maximize system uptime to support its time-critical brokerage business and sustain its leadership position.
In May 2013, the company consolidated database services for its enterprise resource planning (ERP) and order management systems on a single Oracle Database Appliance. It provides a highly available, scalable, and cost-effective database platform and achieves single vendor support for all components, eliminating the risk of multivendor involvement and compatibility issues. Using Oracle Database Appliance, LBSL improved overall system performance by 40%, maximized uptime, halved licensing costs, simplified system management, and enabled rapid deployment in just four-and-a-half-hours instead of weeks.
LBSL operates in a time-sensitive trading environment, so it was critical for the company to ensure high availability database services for its core business applications, such as its ERP and order management systems. By implementing Oracle Database Appliance, the company gained a fully integrated system with software, server, storage, and networking in a single box. This maximized system uptime and eliminated compatibility issues.
“Our shareholders and customers can gain or lose millions of dollars in one second, so we cannot tolerate latency. We must, therefore, ensure 100% availability during our four-hour trading window. Since going live with Oracle Database Appliance, our trading platform has not had a failure or unplanned downtime. It’s very reliable, and we have significantly improved customer service,” said Muinul Islam, chief technology officer, LankaBangla Securities Ltd.
With Oracle Database Appliance, LBSL saved 50% licensing costs when compared to using other competitive brands, such as Cisco, HP, and IBM, and Oracle delivered the most cost-effective database platform for its trading services.
“Thanks to Oracle Database Appliance’s flexible, capacity-on-demand licensing model, we aligned our IT budget with our growth. It was a perfect fit for our business requirements,” Islam said.
Before implementing Oracle Database Appliance, LBSL experienced many compatibility issues because the company used multiple vendors for the database, server, and storage systems required to support its trading platform. It was difficult, costly, and time-consuming to coordinate with each vendor to resolve issues in Bangladesh.
Oracle Database Appliance provides a simple and reliable database platform and enables faster problem resolution through single-vendor support for all components.
“We now have a single point of contact for support and maintenance, rather than spending time investigating which vendor was responsible for a particular problem before containing it. This is a significant benefit for us because we have very scarce IT resources in Bangladesh, and it’s difficult to get one stop service from multiple vendors,” Islam said.
LBSL uses Oracle Enterprise Manager to simplify system management. Its diagnostics capabilities help IT team members to monitor and detect any impending component failures. In addition, LBSL can patch the entire appliance in one operation.
“Our IT staff can now devote more time to developing new products—such as database-as-a-service offerings—for our business instead of diagnosing hardware and software problems. Oracle Database Appliance has lowered our maintenance costs and increased staff productivity,” Islam said.
The company also can easily deploy Oracle Database Appliance in just four-and-a-half-hours rather than spending weeks to install and configure multiple components.
“Oracle Database Appliance is engineered for simplicity, and all the components work together straight out of the box. We’ve cut installation time significantly and reduced implementation risk and cost,” Islam said.
By consolidating its ERP and order management systems on Oracle Database Appliance, LBSL enabled staff members and customers to quickly access data, such as trading history or annual statistical reports, and enhanced data visibility across the platform.
“Our users are very happy because they can now access granular data in just three seconds. We also improved overall database performance by 40% and can provide better service to our customers,” Islam said.
LBSL launched its database-as-a-service for its customers and software-as-a-service for its sister companies. LBSL plans to consolidate both database services on Oracle Database Appliance in 2014, further improving customer service and extending revenue opportunities.
“For example, customers can request an additional service, and we can automate this service through Oracle Database Appliance rather than building a separate database. This is a big step forward and is helping us to retain our leadership position in the stock exchanges in Bangladesh market,” Islam said.
With Oracle Database Appliance, LBSL can also complete system backups without performance degradation and 60% faster. Previously, it took the IT staff four hours to back up the system—from 5 p.m. to 9 p.m.
LBSL considered IBM, HP, and Cisco solutions, and chose Oracle Database Appliance because the single-vendor solution offered a flexible licensing model, high availability, and ease of deployment and management.
“A fully integrated system—with database, server, storage, and networking all engineered in a single box—is the best fit for our time-critical business requirements. We now have a simple, highly reliable, and cost-effective database solution that aligns with our IT budget and growth plan,” Islam said.
LBSL’s in-house IT team worked closely with Oracle partner, Aamra Technologies Ltd., to implement Oracle Database Appliance. It completed installation and testing in 60 days—on time and on budget. The new system went live in May 2013.
LBSL engaged Oracle Platinum Partner Aamra Technologies to assist with the implementation of Oracle Database Appliance.
“Aamra’s extensive knowledge was invaluable in our Oracle Database Appliance implementation. The solution is instrumental in our business transformation initiatives,” Islam said.