Santa Clara, Calif., – December 12, 2023 — Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced that Toss Bank, the fastest growing Internet-only bank in South Korea, is leveraging Pure Storage's all-flash storage platform to deliver reliable, always-on digital financial services to its growing customer base.
Customer Challenge:
As the fastest-growing internet-only bank, acquiring over 8 million customers in just two years, and ranked #1 in South Korea on Forbes’ The World’s Best Banks 2023 list, Toss Bank is disrupting the antiquated banking sector by providing consumers with a portfolio of secure and reliable digital-only financial services.
For Toss Bank, customer data is central to driving efficiency, improving its customer experience, and mitigating risk. Handling upwards of 9,000 transactions per second in its database, however, Toss Bank recognized the need to replace its existing storage system due to performance issues that impacted its ability to deliver optimised financial services to its customers.
Customer Impact:
By adopting Pure Storage’s all-flash storage platform, including the FlashArray™portfolio, Toss Bank gained the performance, reliability, and scalability it needs to deliver a truly modern digital financial experience. Benefits include:
- Improved Performance for Growing Financial Transactions: With Pure Storage’s FlashArray product line, Toss Bank can reliably process 9,000 transactions per second on its database management system. With Pure Storage, Toss Bank gains the ability to scale storage volumes independent of servers, while improving the overall storage environment with increased write performance and reliability, lower costs, and support for non-disruptive upgrades.
- Industry-Leading Data Reduction and Replication: Pure Storage’s FlashArray delivers industry-leading data reduction technology, reducing Toss Bank’s storage needs by up to 83% with a 6:1 data reduction ratio. Pure’s data reduction technology proved to be 2.5x more cost-effective than competing products in terms of effective capacity. Additionally, using FlashArray's built-in snapshot feature, Toss Bank reduced replication time from 4 hours to less than a minute - a 99% savings.
- Reduction in Cost and Data Centre Footprint: Pure Storage’s FlashArray enabled Toss Bank to replace 400 solid state drives (SSDs), saving significant disk purchasing costs - estimated at more than $485,000 - as well as huge savings in data centre footprint and energy costs - estimated at $122,000 over a five-year period.
- AI-Powered Storage Management: Pure1®, Pure's AI-powered storage management platform, enables Toss Bank to easily track storage workload, capacity, and performance status. Proactive alerts immediately inform teams about potential challenges such as hardware degradation, software errors, and environmental issues before they can cause service interruptions.
Executive Insight:
