Customer

This financial institution is one of the top 10 largest global banks by assets and is a network of cooperative and mutual banks, with a customer-focus banking model.

Business Challenge

In line with regulations and their focus on a positive customer experience, this bank required an instant payment service to process payment transactions in real-time and ensure the highest levels of reliability. They also needed to assure to scale capacity ahead of demand and employ sophisticated analytics to help prevent fraud and identify actionable insights from the data they collect.

• Accelerate instant payment solutions and meet regulatory requirements on a global scale and enhance the customer experience
• Assure automatic fraud detection
• Automatically track purchases and other server-to-server communication in real time
• Store payment transactions, order information, and other sales internally

Technical Challenge

• Ability to handle growing data volumes of 15k payment/sec receipts introduced by the management of new SEPA European payment regulation
• Assure no-downtime for mission-critical service

Solution

With GigaSpaces’ in-memory real-time analytics platform, this customer was able to develop and deploy an instant payment solution that meets regulatory requirements on a global scale, handling thousands of payments/sec. Each payment transaction is executed in 500 milliseconds with end-to-end validation, including fraud analysis and others, within seconds. The solution meets mission-critical applications requirements such as high availability and fast recovery.

Results 

Running low-latency payment and business logic calculations

• Payment transaction in 500 milliseconds
• End-to-end validation in seconds
• No downtime assured
• Real-time analytics and Machine Learning – preventing fraud and adherence to regulations
• Design to deployment in just a few months leveraging microservices architecture