Posted by: Gagan Mehra
BigMemory, Financial services, In-memory data management, Uncategorized
Financial services organizations make money by managing a variety of tradeable assets. These assets rely on data from multiple sources to make the business of managing money run efficiently. With the recent growth in data volumes and data velocity, the wheels of this financial engine are slowing down due to pressure on existing applications to a) continue to meet the performance requirements, and b) process large data volumes in real-time for the business to succeed.
These challenges can be overcome by using in-memory data management (IMDM) and integrating it with existing applications. IMDM provides several benefits that are unmatched by any other technology:
1. Ability to scale linearly with predictable performance: Most technologies support small data sets with millisecond or microsecond performance times but the performance degrades as the size of the data set grows. IMDM offers predictable performance regardless of data volume as it has been architected to scale linearly. As the data sets grow from hundreds of gigabytes to hundreds of terabytes, the IMDM setup can scale by adding more memory without worrying about scalability or performance.
2. Ability to integrate with almost any application: It does not matter if the application under pressure is related to investment banking, fraud management, settlement, compliance or something else, IMDM can integrate with any application regardless of the function or the use case. This flexibility extends to IMDM’s ability to work with several different technologies. For example – slow transactions can be offloaded from a mainframe to IMDM to make the end-to-end process run faster, IMDM can be setup as a private cloud instance to allow multiple applications to integrate with it using basic URLs or IMDM can integrate with your application, running in the same process, to give a huge boost to your application performance.
3. Short deployment timeframe: IMDM is a great technological innovation and it achieves greater heights by making it easy to deploy. It only takes a few weeks to implement IMDM in your environment. All you need is to clearly define the use cases that are causing pain and IMDM can be setup to resolve those pain points. Before deploying the IMDM solution, it is important to keep your strategic needs in mind, mostly from a business growth perspective, to ensure the setup can support your business for the next several years.
If you are interested in learning more about the power of IMDM either leave a comment below or contact me at email@example.com.