For IT organizations, channel partners, and vendors who need quick access to a Basel III Compliance solution, five Big Memory labs will be available for demonstrations, proof-of-concept testing, and software integration.
FREMONT, CA: MemVerge, the pioneers of Big Memory software, and Hazelcast, the fast cloud application platform, announced a development and marketing partnership. The Hazelcast platform, featuring real-time streaming and memory-first database technologies, is being integrated with MemVerge memory virtualization and in-memory snapshot technologies to unlock Big Memory capacity and fault-tolerance. The technologies and software will be shaped into Big Memory reference architectures for Financial Services, starting with Basel III Compliance solutions that will be introduced in the second half of 2021.
"Financial institutions are reporting that analytics jobs needed for Basel III compliance are growing in size and complexity," said Kelly Herrell, CEO of Hazelcast. "The reference architectures we develop with MemVerge will enable our customers to transform processes, accelerate the completion of jobs and increase the reliability of applications to capture value at every moment."
According to Charles Fan, CEO of MemVerge, "The Hazelcast platform excels at large-scale computational jobs such as executing and scaling financial risk calculations. MemVerge Memory Machine™ software complements Hazelcast with the ability to scale-up memory capacity to terabytes per server with in-memory snapshots for fast crash recovery of an entire cluster. The combined power of Hazelcast and MemVerge will deliver superior performance and reliability to our joint customers in financial services."