06 May 2016
Visit wolterskluwer.com

Platform Grid-enables SocGen, LBBW and Capital One

09 September 2003  |  8203 views  |  0 Platform Grid-enables SocGen, LBBW and Capital One

The corporate and investment banking group of Societe Generale (SG CIB) is to use Grid technology from Platform Computing to harness spare computing capacity for running number crunching applications in its commodities business.

SG CIB chose Platform's Symphony software after an extensive competitive evaluation, citing the firm's financial sector references, which include Deutsche Bank, Fidelity Investments, Royal Bank of Canada and JPMorgan Chase, among others.

At SG CIB, the technology will initially be used to accelerate and grid-enable compute and time-sensitive applications in the bank's commodities department, drawing on the spare capacity of 500 PCs in the corporate grid, with a view to expanding the infrastructure across the organisation.

Platform has also unveiled significant new contracts with Landesbank Baden-Wurttemberg (LBBW) and credit card processor Capital One.

LBBW is using the technology for performing risk management analytics across more than a million loans and securities accounts.

Peter Oellers, head of risk technology, LBBW, comments: "Thanks to Platform, we achieved time savings of 80 percent in our risk management processes. Our risk assessments take significantly less time. Another important criterion for our decision was the solution's ease of use. It was not necessary to make code changes to any of our applications."

Compatible with both .NET and J2EE, the Platform package features an Application Development Environment (ADE) and intelligent workload orchestration and resource provisioning controlled through a centralised, Web-based management interface.

The firm is looking to capitalise on interest in the technology by opening a New York-based 'Financial Services Acceleration Centre'. Working with key partners including IBM, Egenera, HP, Powerllel and Axiom, Platform says the centres will provide provide technical consulting, application integration and professional services, including Linux and Windows-based solutions.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

DataSynapse partners with PCIB to tap German Grid market

DataSynapse partners with PCIB to tap German Grid market

29 July 2003  |  3299 views  |  0 comments
DataSynapse reports Grid win at US mortgage bank

DataSynapse reports Grid win at US mortgage bank

17 June 2003  |  3328 views  |  0 comments
DataSynapse Grid-enables IBM zSeries mainframe

DataSynapse Grid-enables IBM zSeries mainframe

22 April 2003  |  3948 views  |  0 comments
Politics, not technology, is key barrier to grid computing

Politics, not technology, is key barrier to grid computing

13 March 2003  |  3353 views  |  0 comments
DataSynapse integrates LiveCluster system with Calypso platform

DataSynapse integrates LiveCluster system with Calypso platform

18 February 2003  |  3704 views  |  0 comments
JPMorgan Chase signs with Egenera for Grid technology backbone

JPMorgan Chase signs with Egenera for Grid technology backbone

03 February 2003  |  5025 views  |  0 comments
Abbey installs DataSynapse peer-to-peer grid technology

Abbey installs DataSynapse peer-to-peer grid technology

12 November 2002  |  4839 views  |  0 comments
JPMorgan signs Grid technology deal with Platform Computing

JPMorgan signs Grid technology deal with Platform Computing

06 September 2002  |  6019 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit equens.com

Top topics

Most viewed Most shared
Yorkshire and Clydesdale Bank launch digital challenger bank BYorkshire and Clydesdale Bank launch digit...
8297 views comments | 26 tweets | 35 linkedin
IBM makes blockchain cloud playIBM makes blockchain cloud play
7534 views comments | 25 tweets | 23 linkedin
Legacy banking vendors in fintech firing lineLegacy banking vendors in fintech firing l...
5918 views comments | 25 tweets | 32 linkedin
Wendy's faces class action suit over data breachWendy's faces class action suit over data...
5491 views comments | 8 tweets | 5 linkedin
Europeans ready to quit banks over out-of-date technologyEuropeans ready to quit banks over out-of-...
5455 views comments | 36 tweets | 52 linkedin

Featured job


Paris - France or Brussels - Belgium

Find your next job