Winners honored at the 2019 American Financial Technology Awards (AFTAs) in New York on December 3, 2019

Société Générale was honored at the 25th annual American Financial Technology Awards in New York, on December 3rd as the winner of best global deployment powered by GigaSpaces in-memory computing platform. The American Financial Technology Awards recognizes excellence in the deployment and management of financial technology within the asset management and investment banking communities.

Société Générale leverages GigaSpaces in-memory, extreme-processing and real-time analytics platform as a heterogeneous data services platform which is distributed in cities worldwide including Paris, New-York and Hong-Kong. The solution provides millisecond multi-geo replication across data centers, which ensures low latency access to data and complete data consistency. The service supports, hundreds of concurrent applications including pre-trade, risk management, and accounting services.

The Need for Real-time Global Data Replication Tools

Société Générale replaced a legacy data-distribution system, to the GigaSpaces solution which has proven to be highly cost-efficient, utilizing virtualized components while also requiring fewer human resources to operate and maintain. WAN outages and unpredictable infrastructure issues are automatically and transparently managed, resulting in 0 downtime since it was implemented in 2018.

Financial Services today are struggling to provide the required access speed to their services and data. They need to be able to calculate risks with extremely low latency (sub-second), and improve overall performance of hundreds of applications in multiple geographies. Such financial enterprises are searching to achieve ‘full’ automation, consistency and resiliency and reduce manual intervention to the minimum.

This problem has become critical for global companies whose data resides either on-premise, on private and public cloud or hybrid environments, with external and internal clients in multiple geographical locations.

All modern enterprise IT organizations are concerned with replicating mission-critical data across sites, applications, or data centers. Large sites often serve users and applications across continents. However there are many challenges to achieving real-time data replication, and enterprises have additional demanding requirements that must be a part of any solution, including reliability, consistency, security, privacy and filtering.

If you add the complexities of data peaks and data access restrictions in specific countries, meeting the real-time performance demands becomes even more challenging.

Société Générale Achieves Business Continuity & Mission-Critical Data Availability with GigaSpaces

“It’s an honor for our customer Société Générale to receive this industry and peer recognition based on our technology,” said Karen Krivaa, VP Marketing at GigaSpaces. “We are fully committed to providing the performance, speed and high availability for running real-time transactional and analytical processing required by our customers to reduce risk, optimize operations and provide a superior personalized customer experience.”

This award follows other prestigious awards this year including, GigaSpaces’s InsightEdge AnalyticsXtreme honored as Gold winner the Performance Optimizations category at the Golden Bridge Awards, GigaSpaces AnalyticsXtreme Winning the Gold for Business Intelligence and Analytics at Network Products Guide’s 2019 IT World Awards and GigaSpaces winning the Top Spot in AI and Cloud Innovation at Informatica World.