GigaSpaces Technologies, provider of a new generation of application platforms for Java and .Net environments, has been chosen by Sweden's Avanza Bank to supply the infrastructure for its core services. Avanza will be using GigaSpaces eXtreme Application Platform (XAP) for all trading, customer and data processing and storage.
"We have a 100% customer focus to provide the next generation of financial services, and sought technology that would help us achieve this," says Ronnie Bodinger, Avanza Bank CTO and founder. "GigaSpaces technology allows us to increase customer satisfaction by facilitating better, user-friendly services, as well as new services, which ultimately enhances our bottom line."
XAP provides a complete middleware stack for building scalable applications with extreme low-latency and high-availability. It delivers end-to-end, dynamic linear scalability across the entire stack, from the data all the way to the application, virtualizing the entire system. XAP's in-memory infrastructure easily handles high-volume, high-performance, high-availability requirements, while guaranteeing data integrity.
"Providing the technology solutions that positively affect the bottom line to financial services companies has long been our forte, with many of the world's top financial institutions as clients," says Adi Paz, GigaSpaces Executive Vice President of Marketing and Business Development. "We look forward to supporting Avanza Bank during the migration process, ensuring they benefit from all aspects of our extensive experience and technology."
Within financial services organizations, XAP supports requirements such as high-volume extreme transaction processing, like algorithmic trading and market data distribution; real-time analytics and calculation systems, including value-at-risk, pricing, P&L, surveillance and compliance; and large-scale heterogeneous environments that must comply with industry and government regulations.
XAP also supports the building of private clouds within financial institutions because it provides a completely virtual deployment environment. Applications do not have to know the underlying hardware infrastructure on which they run, allowing them to be deployed in a static environment today and dynamically migrated to a cloud tomorrow with no downtime.
"We were extremely impressed by some of the key GigaSpaces features, especially scalability and its SLA-driven container that ensures self-healing," concluded Ronnie. "With XAP, we also get easy testability of new features, allowing us to develop new products rapidly."
More information on this integration can be found in this dedicated blog post at the GigaSpace's blog, and in this webcast of Ronnie Bodinger's session at a recent GigaSpaces event in Stockholm, Sweden.