But by last year, the bank's database was close to capacity. Those client reports, though rarely accessed, must be maintained for years to meet Internal Revenue Service regulations. The growing volume of stored data threatened the system's performance and the bank's plans to grow its institutional-investor business.
One solution was to expand the system with more hardware and database storage capacity. But that would be costly and would only solve the problem until new capacity limits were reached. "If we wanted to continue to grow this database and continue to serve the number of clients we expect to have, we needed to archive this data offline," says Peter Keaveney, VP and head of the bank's Investment Accounting Systems Division.
Active Archive helps the Bank of New York cut costs, VP Keaveney says.
Today the bank's operational database holds daily client-portfolio reports going back 105 days and two years' of monthly, quarterly, and annual reports. Older reports are stored in the Princeton Softech data archives, which now hold 1.2 billion rows of data.
The bank saves between $50,000 and $60,000 a month by not having to buy additional hardware to accommodate the rapidly expanding operational database, Keaveney says, and it's cut CPU use by 20%. He says database reorganizations and backup-and-restore tasks also are quicker.