Green IT

Aiming for Net Zero, banks and financial service organizations are focusing on Green IT to substantially cut down energy usage, to switch to renewable energy and to dispose/recycle e-waste safely. Technology leaders from 11 financial organizations across India, Nepal, Bangladesh, Mauritius and Iran share their Green IT initiatives in this cover story:

- Smriti Pandey, Manoj

Spice Money: Green Infrastructure at the Core

Spice Money is a rural fintech company. It leverages IT in a big way and is constantly searching for and adopting Green IT solutions. It prioritizes environmental responsibility alongside cost savings.

INFRASTRUCTURE EFFICIENCY

Spice Money has made significant strides in enhancing hardware efficiency by focusing on ENERGY STAR-rated equipment when selecting servers, storage, and networking devices. This careful procurement ensures that the technology they use is energy-efficient. Additionally, the company has implemented server consolidation, allowing multiple virtual machines to run on a single physical server, which significantly reduces overall power consumption.

In terms of software and power management, Spice Money has optimized its workloads to use fewer servers, consolidating underutilized ones to lower energy draw. The data center’s energy consumption is closely monitored, and corrective actions are taken as needed to maintain efficiency.

Varundeep Kaur, CIO at Spice Money, says: “Spice Money’s data center and cloud initiatives further underscore our commitment to sustainability. The data center operates in a tier 4 facility, utilizing 60% renewable energy. This LEED-certified building aims for carbon neutrality by 2030. Moreover, our data warehouse workloads are hosted on energy-efficient and environmentally friendly cloud services, contributing to our overall green IT strategy.”

ELECTRONIC WASTE MANAGEMENT