SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced a strategic alliance with GigaSpaces, a leading provider of highly scalable application server technology, to meet the high-performance demands of TLM® customers well into the future.
Under the partnership, GigaSpaces’ flagship eXtreme Application Platform (XAP) product will be embedded within SmartStream’s TLM technology suite. GigaSpaces XAP has been developed to manage the most demanding enterprise applications, allowing businesses to cost-effectively plan for future growth while always being prepared for peak loads and spikes in demand for their applications and services.
Escalating transaction volumes, increasing complexity of process flows, including match rules for reconciliations, and the move to real time processing all create performance demands. More firms see the benefits of enterprise-wide operations platforms, and have pursued the establishment of processing utilities across business lines, making high-performance a paramount concern. Some financial institutions have seen transaction volumes double in one year.
Using GigaSpaces’s proven technology, SmartStream can deliver on demand and predictable scalability to support clients’ high-performance processing requirements. GigaSpaces technology breaks the barriers to linear scalability, the ability to consistently achieve performance improvement by adding more processing power, without making software changes. SmartStream is now able to offer this capability to TLM customers, future-proofing their TLM platforms.
Neil Vernon, Senior Product Manager, SmartStream, commented: “With this partnership agreement SmartStream continues in its long investment to ensure enterprise level performance and scalability. TLM has long scaled to the demands of the largest enterprise clients but this announcement signals new levels of scalability in a real-time architecture that will be comparatively easy to achieve.”
Edu Meytal, General Manager of International Operations at GigaSpaces said: "Financial services firms face some of the most demanding processing challenges in the software market. With its proven technology and vast experience in financial services, GigaSpaces has responded to market needs by developing technology to meet their challenges. We’re delighted to be working with SmartStream, an industry leader in middle and back office technology for the financial services market. The combination of our XAP technology within SmartStream’s TLM suite will enable clients to scale quickest, be resilient, and manage rising volumes in a predicable manner."