Data manager Hazelcast gets new cast of customers
California-based Hazelcast, an open source in-memory data management company, has got itself several new contract wins in the financial services sector.
New customers include Lloyds; UBS; Bank BGZ BNP Paribas; Euro Bank; Czech Republic-based Česká spořitelna; KB Kookmin Bank in South Korea; and National Australia Bank (NAB).
It says its tech is used by four of the world’s ten largest banks. Common use cases in the sector include algorithmic trading, risk management, financial market data and foreign exchange.
The firm has two products: Hazelcast IMDG (in-memory data grid), an operational, in-memory computing platform which enables enterprises to manage their data and distribute processing using in-memory storage; and Hazelcast Jet, an embeddable, stream and batch processing engine.
According to the firm, many organisations have become dependent on proprietary solutions from large vendors as they try to reduce latencies.
In its view, IMDG is an open source alternative to these proprietary solutions, which is capable of processing millions of transactions per second.