Avanza Bank Chooses GigaSpaces for IT Infrastructure

Sweden's Avanza Bank has recently selected GigaSpaces (News - Alert) Technologies, provider of a new generation of application platforms for Java and .Net environments, to facilitate with infrastructure for its core services.

The bank will be utilizing GigaSpaces eXtreme Application Platform (XAP) for all trading, customer and data processing and storage.

The newly adaptedXAP will offer the Avanza Bank with 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, and high-availability requirements, while guaranteeing data integrity.

"We have a 100 percent 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."

According to GigaSpaces officials, XAP solution is ideal for financial services organizations, as it backs 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.

Bodinger said that they are extremely impressed by some of the key GigaSpaces features, especially scalability and its SLA-driven container that ensures self-healing.

GigaSpaces specializes in the new generation of application virtualization platforms and is a leading provider of end-to-end scaling solutions for distributed, mission-critical application environments and cloud-enabling technologies.

The company’s offering includes solutions for enterprise application scaling as well as enterprise PaaS and SaaS (News - Alert) enablement designed from the ground up to run on any cloud environment – private, public, or hybrid – and offer a pain-free, evolutionary path to meet tomorrow’s IT challenges.