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 processing (HTAP) applications across any data store. Our solutions deliver predictable latency, flexible scaling, configurable data consistency and reliable uptime. Ultra low latency use cases can be addressed using high performance Java Virtual Machines (JVMs). GridGain, built on the open source Apache Ignite® project code base can run on commodity hardware, virtual machines or cloud providers, on-premises, in public or private clouds, or on hybrid environments.
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.
Finastra is used by 48 of the world's 50 largest banks. Read about their solutions in our Finastra (Misys) case study
Markit - A leading worldwide provider of fintech solutions for applications including risk analysis and enterprise document management for financial services firms.
The Glue is a fintech startup that is creating a platform for financial institutions to quickly develop innovative financial services.
FinTech Use Cases for GridGain Technology
Analytics Risk Engines
Front-End Systems Integration
Treasury, Risk and Management Solutions
Enterprise Data Management
Automated Investment and Trading