MONTREAL and SEOUL, SOUTH KOREA -- (MARKET WIRE) -- 04/28/2005 -- SAND Technology Inc. (NASDAQ: SNDT), an innovator in analytic application infrastructure, today announced that the e-Banking division of National Agricultural Cooperation Federation (NACF), a leading Korean financial services group, has adopted the SAND Information Lifecycle Management approach to data warehousing, as previously announced, and is now deploying SAND Searchable Archive as a key component of that strategic implementation.
NACF is a national financial services institution established in 1961, with over 4,000 branches throughout South Korea. It operates the largest electronic network system in the country, offering tele-banking, e-banking, mobile/PDA banking, and a variety of automated services. It processes a very large volume of e-banking transactions daily, and this is increasing steadily as customers become more comfortable with Internet banking. The large amount of log data generated by these transactions must be kept available for two months so that call center staff can access it if necessary to respond to customer support requests.
The solution based on SAND Searchable Archive is now used to store almost a terabyte of transaction log data in a very compact (approximately 50 GB) archive that can be directly searched via a simple application using standard SQL. Support staff now get their answers in minutes rather than days. The archiving process is fully automated and can accommodate changes to archived objects over time with minimal administrative effort.
"We are very pleased with the performance of SAND Searchable Archive in our e-Banking data warehouse implementation," said Young-Mun Cho, a Manager in NACF's e-Banking division. "The high compression rates resulted in significant storage savings, without compromising our users' ability to access the data quickly when they need it. We are also very happy with the performance of SAND support services and with TOPEND Technology as the project managers."
"We anticipate several long-term benefits from the system. Besides the savings on disk costs, both application development costs and operations overhead will be reduced," he added.
"The NACF is a very prestigious financial institution in Korea," added Dong-Won Shin, CEO of TOPEND Technology, a Business Intelligence consulting services firm and SAND Technology's Korean distributor. "This is an important first reference site for us for SAND products, and we believe that this project will lead to more business within the NACF group and the financial services sector in Korea, as well as in other vertical markets."