In-Memory Computing for FinTech
In-memory computing can add dramatic speed and scale to financial technology applications. The GridGain in-memory computing platform is used in leading fintech applications which are installed broadly throughout the financial services industry. For example, the GridGain solution is included in solutions used by 48 of the top 50 banks worldwide. The GridGain in-memory computing platform enables unprecedented speed and scale for all transactional, analytical and hybrid transactional/analytical applications (HTAP) across any data store. Our solutions deliver predictable latency, flexible scaling, configurable data consistency and reliable uptime. GridGain, built on the open source Apache™ Ignite™ project code base, can run on commodity hardware, virtual machines or cloud providers.
FinTech Use Cases for the GridGain In-Memory Computing Platform
The FinTech market grew from $1.8 billion in 2010 to more than $19 billion in 2015. According to a 2016 Accenture report, venture capitalists, private equity firms, and other players have invested $50 billion in almost 2,500 FinTech companies since 2010. There are many reasons why.
Driven by all that VC investment and an accompanying startup mentality, FinTech development is happening internationally, and the applications are easily reaching a worldwide market of global banks. Many barriers to entry have been removed as developers take advantage of lower-cost technologies and open source software to innovate and then implement and iterate their ideas quickly.
Banks are rapidly adopting cloud-based applications and outsourcing some of their data processing and analysis to FinTech companies that can do it faster, better, and within very specific regulatory strictures that they specialize in addressing. By offloading a significant percentage of their traditional back-end work, banks can focus on their core specialties and improve their customer service.
The GridGain in-memory computing platform can be used in the following use cases:
- Analytics Risk Engines
- Front-End Systems Integration
- Treasury, Risk and Management Solutions
- Enterprise Data Management
- Automated Investment and Trading
- Peer-to-Peer Lending
GridGain Case Studies
Banking on High Performance Computing and Fast Data with GridGain
Headquartered in London, Misys is transforming the global financial services industry by making financial institutions more resilient, more efficient and more competitive. The company provides the broadest, deepest portfolio of financial services software, covering retail and corporate banking, lending, treasury, capital markets, investment management and enterprise risk. Misys has more than 2,000 customers in 130 countries, addressing industry requirements at both a global and local level. Their solutions are used by 48 of the world’s 50 largest banks and 12 of the top 20 asset managers. Read more about the GridGain in-memory computing platform in fintech by reading our Misys case study.
Some of GridGain's FinTech Clients
- Misys – Used by 48 of the world's 50 largest banks. Read about their solutions in our Misys case study.
- Markit - A leading worldwide provider of fintech solutions for applications including risk analysis and enterprise document management for financial services firms.
Other GridGain Resources About FinTech and Financial Services
- Case Study - Misys case study
- White Paper - Empowering Fintech with In-Memory Computing
- White Paper - Achieving Real-Time Financial Regulatory Compliance with In-Memory Computing
- White Paper - Driving High-Frequency Trading and Compliance with In-Memory Computing
- eBook - An Overview of In-Memory Computing for High Performance Financial Applications