The concept of virtualization came when technology-enabled companies to do away with hardware-based infrastructure growth and use virtualized systems like VMware to increase cost-efficiency. The financial services industry was one of the key beneficiaries of this technology development due to high dependence on the IT infrastructure. But little did they realize that it would soon be possible for an entire financial services company to operate in the virtual mode using virtual banking/insurance licenses and forget the brick-and-mortar style of business. | 