10gen, the MongoDB company, today announced the formation of the MongoDB Financial Services Advisory Group, a collaborative body composed of representatives from the financial services sector.
Ten leading global institutions are represented as charter members, including Barclays, Goldman Sachs and MetLife.
The Advisory Group will meet semi-annually to discuss common use cases and identify strategic growth opportunities for NoSQL within the financial services industry and beyond.
"We're seeing an acceptance of NoSQL as the first real challenger to the relational model in decades. Financial Services organizations are looking to NoSQL because it can often be a better fit for how applications are written, scaled and managed today," said Max Schireson, CEO of 10gen. "It is a privilege to work with these organizations and create a deeper connection between industry and technology to guide MongoDB development and ensure user success."
The inaugural meeting of the Advisory Group will be held on June 19 at Goldman Sachs' New York City headquarters. Participation is by invitation only.
"We are pleased to be hosting the first Advisory Group meeting and support 10gen's efforts to bring technology professionals together to discuss the enterprise opportunities and challenges faced by the financial services community today, and to work toward more optimal NoSQL solutions within our organizations," said Warren Finnerty, managing director in the Technology Division and head of the Global Database team at Goldman Sachs.
MongoDB is the open-source, document database popular among developers and IT professionals due to its agile and scalable approach. MongoDB provides a JSON data model with dynamic schemas, extensive driver support, auto-sharding, built-in replication and high availability, full and flexible index support, rich queries, aggregation, in-place updates and GridFS for large file storage.
Common use cases include operational and analytical big data, content management and delivery, mobile and social infrastructure, user data management and data hub.