RBA Engages NTT for Revamp of IT Infrastructure Architecture and Execution
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Reserve Bank of Australia Teams Up with NTT for a Comprehensive IT Infrastructure Revamp
Overview:
- The Reserve Bank of Australia (RBA) has contracted NTT Australia for a $12.7 million agreement to create and implement new IT infrastructure as part of the CoreMod initiative.
- The CoreMod initiative encompasses setting up a new data center and transitioning critical workloads.
- This project is projected to continue until 2027, featuring several vital milestones, such as the migration of business applications and the retirement of the existing data center.
- RBA has previously invested substantially in its IT infrastructure, including agreements with Cisco and Hitachi Vantara Australia.
- The intended IT infrastructure aims to bolster the resilience, security, and efficiency of Australia’s payments system.
CoreMod Initiative: A Tactical IT Transformation
The Reserve Bank of Australia (RBA) is embarking on a pivotal stage in its CoreMod initiative, signifying a tactical transformation of its IT infrastructure. The initiative has entered the design and implementation phase, with NTT Australia chosen to lead this crucial endeavor. The contract with NTT, valued at $12.7 million, is set to commence now and extend through October 2025.
What Does the CoreMod Initiative Entail?
Introduced at the end of the previous year, CoreMod is a multi-year initiative designed to develop a future-ready IT infrastructure for the RBA. The plan entails establishing a new data center at a CDC facility, followed by the transition of critical workloads into this newly built environment. This effort highlights RBA’s dedication to modernizing its IT capabilities, enhancing resilience, security, and operational efficiency.
Strategic Collaboration with NTT Australia
The alliance with NTT Australia is crucial for the effective execution of the CoreMod initiative. Janet Mengel, CoreMod Program Director, stated that this partnership will empower RBA to build a modern, secure infrastructure platform, vital for the future of Australia’s payments infrastructure. NTT will play an essential role in transitioning national critical applications to the new infrastructure, establishing a solid, efficient, and secure payments framework for Australians.
Major Investments and Upcoming Milestones
Notable Infrastructure Investments
Alongside the NTT agreement, RBA has made several significant infrastructure-related purchases this year. Noteworthy is the awarding of contracts to NTT Australia for Cisco hardware and software, totaling $67.5 million, and an extra $16.1 million for F5 load balancers. Furthermore, the central bank has established a $13.6 million “managed services” contract with Hitachi Vantara Australia.
Upcoming Milestones and Schedule
RBA has delineated a clear trajectory for the CoreMod initiative, presenting several critical milestones:
– **2025**: Finalization of infrastructure design and implementation.
– **2026**: Transition of business applications and rollout of an observability tool.
– **2027**: Retirement of the current head office data center.
This schedule reflects RBA’s enduring commitment to a smooth shift to an advanced IT infrastructure.
Conclusion
The Reserve Bank of Australia’s CoreMod initiative signifies a considerable investment in the future of the nation’s financial framework. By collaborating with NTT Australia, the RBA is undertaking essential measures to create a resilient, secure, and efficient IT platform that will underpin Australia’s payments infrastructure for years to come. With primary milestones established through 2027, the initiative is set to modernize the RBA’s operations, ensuring responsiveness to the challenges of a progressively digital economy.
Q&A: Clarifying the RBA’s CoreMod Initiative
Q: What is the CoreMod initiative?
A:
The CoreMod initiative is a multi-year effort by the Reserve Bank of Australia aimed at modernizing its IT infrastructure. It involves creating a new head office data center and migrating essential workloads, assuring a future-ready platform for the nation’s payment systems.
Q: Why was NTT Australia chosen for this initiative?
A:
NTT Australia was selected due to its proficiency in IT infrastructure design and implementation. The $12.7 million agreement highlights RBA’s confidence in NTT’s capabilities to deliver a secure and resilient platform that is critical for the success of the CoreMod initiative.
Q: What are the main milestones of the CoreMod initiative?
A:
The primary milestones consist of completing infrastructure design and implementation by 2025, migrating business applications and deploying an observability tool by 2026, and decommissioning the existing data center by 2027.
Q: How does the CoreMod initiative benefit Australia?
A:
The CoreMod initiative will strengthen the resilience, security, and efficiency of Australia’s payments framework, ensuring it can effectively meet future demands. This will benefit Australian businesses and consumers by offering a more dependable and secure financial infrastructure.
Q: What other investments have been made by RBA in IT infrastructure?
A:
RBA has made several noteworthy investments, such as contracts with NTT Australia for Cisco hardware and software ($67.5 million) and F5 load balancers ($16.1 million), in addition to a $13.6 million managed services agreement with Hitachi Vantara Australia.
Q: How long is the timeframe for the CoreMod initiative’s completion?
A:
The CoreMod initiative is anticipated to run until mid-to-late 2027, with various stages of implementation and migration outlined throughout this timeframe.