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Hazelcast Announces New Customers in Financial Services

Hazelcast Comms July 12, 2018

Palo Alto, Calif., July 12, 2018Hazelcast, the leading open source in-memory data management company with millions of productive clusters and over 60 million server starts per month, today announced several new contract wins in the financial services sector. New Hazelcast customers include Lloyds Bank PLC, one of the “big four” clearing banks; UBS Investment Bank, a Swiss multinational investment bank; Bank BGZ BNP Paribas S.A., the world’s eighth largest bank; Euro Bank S.A., a retail banking service provider; Česká spořitelna, the largest Czech bank; KB Kookmin Bank, the largest retail bank in South Korea; and National Australia Bank, one of the fourth largest financial institutions in Australia.

These latest customer acquisitions further emphasize Hazelcast’s growing dominance in the financial services sector where its technology is relied upon 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 properties of an In-memory Data Grid (IMDG) lend themselves to solving many of the system challenges facing the financial sector today. Many organizations have become dependent on proprietary solutions from large vendors  as they try to reduce latencies. Hazelcast IMDG is a commercially supported open source alternative to these proprietary solutions, which is extremely fast and capable of processing millions of transactions per second.

Hazelcast IMDG is designed to provide high availability and scalability by distributing data across multiple machines. It is easy to work with and brings a highly resilient and elastic memory resource to applications and is also one of the most widely adopted open source solutions.

Greg Luck, CEO of Hazelcast, said: “Hazelcast IMDG is designed to deliver breakthrough application speed and consistent low latency, two critical elements in today’s ultra-competitive financial services market. Hazelcast IMDG fixes many of the performance and scalability issues that challenge  many financial institutions, enabling them to focus on new capabilities and revenue opportunities.”