Infy Finacle software breaks 15-m per hour transaction barrier
By Mumbai: | 12 Sep 2003
The company has announced that its Finacle core-banking software logged 4,562 transactions per second, adding up to more than 15-million banking transactions per hour.
Other
core-banking software by comparison are Sanchez (1,200
transactions per second) System Access (3,800 transactions
per second) and FNS (1,500 transactions per second).
In the recently concluded benchmarking exercise on Hewlett Packard server in the US, Finacle churned out more than 15-million transactions per hour in an online mode and more than 13-million interest accrual transactions per hour in the batch mode.
Both the process and results of the benchmarking exercise were audited by accounting and consulting firm Ernst & Young.
Finacle is the company's flagship suite of banking solutions covering Finacle Core Banking, Finacle eChannels, Finacle eCorporate, Finacle CRM and Finacle Treasury.
Says Girish Vaidya, senior vice-president and head, banking business unit: "Realising the importance of scalability for a world-class core-banking solution, we focused our energies on this and had a dedicated team of our top architects working on it."
Scalability is the ability to handle transaction growth when the bank grows or when more branches are automated.
Says Merwin Fernandes, vice-president and head, sales and marketing, banking business unit: "I am delighted to see that we have achieved what we set out to do — significantly raise the performance threshold for our competition yet again, this time on the scalability front."
Fernandes
feels banks in the western world are saddled with antiquated
legacy systems that hamper their ability to respond to
the challenges of the new banking age. He is also of the
view that with globalisation, mergers and acquisitions
and universal banking, the need is for seamless scalability
to handle growing volumes.