Financial Services
In-memory, low-latency, and scalability features in GridGain meet the high performance computing needs of global financial service firms
Banking, financial services, and insurance (BFSI) companies are grappling with massive amounts of data in different application silos combined with the need for scalable, secure, reliable, high-performance computing for instant calculations and transactions.
The GridGain In-memory Computing Platform is inserted between existing application and data layers with only incremental changes to dramatically speed up and scale-out applications. It's a powerful, distributed computing solution that provides massive scalability and up to a 1000% increase in application performance.
High-speed processing and on-demand scalability are driving strategic decisions, risk reduction, and improved productivity for BFSI companies around the world.
GridGain Financial Services Use Cases
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Risk Management
GridGain's in-memory speed and event-driven architecture enables the management of risk in products, trading, positions, lending, and operations in real-time and with a simpler user experience, full compliance and reporting capabilities, accurate and up-to-data analytics, and the use of commodity hardware lowers infrastructure costs.
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Order Flow Analysis
Analyze the flow of trading orders in real-time using GridGain's machine learning, continuous queries and high-speed ACID-compliant transaction processing to assess pricing impacts, inform trading strategy, and monitor algorithmic trading and unusual or illegal activity.
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Portfolio Management
Get continuous, real-time, event-driven updates in response to complex queries on positions across customers, asset classes, and currencies with pricing and risk factored in. Pull in historical data using GridGain's native transactional persistence.
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Pricing Support
Support trading decisions, the trading lifecycle, and risk calculations that involve both simple and complex calculations based on large amounts of data using GridGain's Compute Grid and caching technology.
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Risk Calculations
Use various methods like VaR and stress tests to quantify an institution's risk profile and the accuracy of regulatory reporting across an entire portfolio. GridGain can orchestrate the calculations using its compute grid, even written in different languages, while caching source data and intermediate results.
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Investment Book of Record
Consolidate data from throughout the institution to provide a holistic view of the organization for analytics and strategic exploration using the Data Integration Hub architecture at its core.
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Customer 360º
Integrate and correlate customer data from multiple systems in real time and at tremendous scale to provide personalization and inform product cross-sales opportunities.
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Real-time Payments
Requires a demanding combination of real-time responses, transactions and high availability to instantly and securely settle payments between consumers and businesses. GridGain can provide the high throughput, reliability, resilience, horizontal scalability, ACID-compliant transactions and once-only guarantees that are needed.
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API Offloading
Legacy systems often have throughput constraints or per-transaction costs. Use GridGain to cache data in memory to increase performance for customers while decreasing the load on back office systems.
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Fraud Detection
By storing historical transactions on disk and frequently used data in memory combined with its event driven architecture, GridGain can determine the legitimacy of transactions in near real time.
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Account Services
Use the compute grid to handle processing-intensive calculations to generate monthly statements with on-demand scale, enterprise-grade security, and transactional integrity in accordance with regulatory SLA requirements.
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Fraud Prevention
Detect and prevent fraud before it occurs by applying custom algorithms or machine learning techniques involving massive and complex computations on card transactions in near real time. Enable automated enforcement of Know Your Customer (KYC) and Anti-Money Laundering (AML) processes.
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Merchant Payments
Process credit authorizations and validation from merchants and accounts payable transactions with guaranteed accuracy, stringent data security, and on-demand scale to accommodate normal levels of activity and business spikes.
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Loyalty Programs
Process the vast amounts of data from multiple internal and merchant systems and repositories to support loyalty or rewards programs through complex, high-performance, artificial intelligence and machine learning systems.
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Smart Claims Processing Insurance Fraud
Combine data from underwriting, claims history, and policies and apply artificial intelligence and machine learning techniques to handle claims processing and to detect insurance fraud.
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Actuarial Simulations
Process historical data and execute complex, high-volume actuarial simulations fast by combining in-memory computing with distributed parallel processing.
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Underwriting Policy Services
Automate underwriting services and real-time policy updates by creating a single customer view and provide updates across customer engagement channels.
Customer Success
JPMorgan Chase used an Ignite in-memory data grid on the GridGain In-Memory Computing Platform to bring calculation times for total exposure views down from three minutes to milliseconds – 100 times faster than the previous portfolio management system.
"We used Ignite to simplify our architecture and gained huge performance increases by removing the cost of shipping the network around the data. Ignite takes care of data caching, persistence, and the compute layer for custom analytics," said Rich Spencer, Executive Director, US Head of Equities & MAS Technology at JPMorgan Chase & Company.
Wellington Management used Apache Ignite on the GridGain In-Memory Computing Platform to run and optimize the company's Investment Book of Record (IBOR) system.
As the single source of truth used by portfolio, risk, and compliance managers to make investment decisions for their clients, it processes trading, accounting, and back office activity data in realtime. The system meets all of Wellington Management's criteria; it’s highly available, highly scalable, and highly recoverable.
ING Belgium uses API offloading on the GridGain In-Memory Computing Platform as-a-service to ingest all of the company's business data from aging mainframes for faster and more scalable compute and storage. Ignite on GridGain provides the company's software developers with the in-memory database, software, frameworks, and libraries to build high-performance applications fast, with monitoring, encryption, authentication, and authorization services between nodes.
Achieve low-millisecond latencies at massive scale for your financial services applications.
Contact GridGain →