Ingres Corporation, the leading open source database management company and pioneer of the New Economics of IT, announced today it has entered into a strategic agreement with Bendigo Partners, LLC.
The partnership is intended to promote the use of Ingres VectorWise within the financial services industry. Bendigo Partners focuses on investment and operating partner opportunities in global, technology-driven financial services. It supports product expansion, global expansion, acquisitions, or technology and operational efficiencies with both capital and expertise.
Ingres VectorWise is a groundbreaking database technology that delivers the performance required to analyse today's exploding quantity of customer data to enable instant profit maximisation. Built on the proven open source enterprise class Ingres Database, this is the first database technology to take advantage of the massive advances in modern chip technology from Intel and others to generate more than 10 fold improvements in database efficiency.
"We are obviously pleased with Bendigo's interest in Ingres VectorWise," said Roger Burkhardt, president and CEO, Ingres. "The benchmarks demonstrated by our partners validate our own initial tests - they show that Ingres VectorWise can easily analyse business data at the 'speed of thought' giving those who need to make business decisions an immediate advantage with far lower costs and with more than 10 times the speed."
"We are always interested in identifying technologies that have the potential to be disruptive in the marketplace," said Jarrett Lilien, Bendigo founding partner and former president and COO of E*TRADE Financial. "We feel that the Ingres VectorWise database will change the way data is collected and analysed in the financial services industry. Our technology partner, dbConcert has run independent benchmarks and found VectorWise to be 10 to 50 times faster than the leading commercial database management systems. We think this has the potential to be a game changing technology for financial services organisations looking to analyse large quantities of data without the need to build complex data warehouses."
"This agreement extends our partnerships in the technology sector," says Michael Deleray, Bendigo founding partner and former president of US Equity Services at Computershare. "Ingres VectorWise can provide a real competitive edge to our operating companies, especially when they leverage the software as a service model. We feel that the Ingres VectorWise product offering is going to have a significant impact in financial services and other industries."
Ingres VectorWise allows financial services companies to take advantage of improvements in database efficiency in order to make better business decisions in less time. Ingres VectorWise is a collaboration between Ingres and VectorWise, a spin out from the leading database research team at CWI of Amsterdam, a research institute in mathematics and computer science. To learn more about Ingres VectorWise, please go to http://www.ingres.com/vectorwise/.
"Partners are an integral part of our strategy for Ingres VectorWise," continued Burkhardt. "We rely on their domain expertise to identify business processes that can be transformed by the new analytic applications that Ingres VectorWise makes possible. Our agreement with Bendigo Partners is a perfect example of how two companies can partner together to bring a disruptive technology to an entire sector."