BANGALORE and SAN FRANCISCO, Oct. 27, 2015 /CNW/ - Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that its Finacle Core Banking Solution running on an Oracle SuperCluster M7 has set a new record for the number of banking transactions processed.
In the test, which was observed and reviewed by the global advisory firm Ernst & Young, the solution supported more than 2.0 billion bank accounts with near linear scalability. The results showcase Finacle's capabilities to manage extraordinarily large transaction volumes to help banks cater to their growing business demands at reduced costs.
The tests were conducted across a mix of delivery channel transactions that could originate from branches, ATMs, online and mobile channels. Finacle Core Banking version 11.1.2 was tested on Oracle SuperCluster M7, Oracle's SPARC T7/M7 servers running Oracle Solaris 11.3 with Oracle Database 12c along with Oracle WebLogic 12c to determine its performance and scalability parameters. PCI DSS security compliance on Oracle Solaris 11.3 was carried out as reported by Oracle. (1)
Key performance highlights:
- The test was simulated on the Finacle database of more than 65 terabytes having more than 210,026 branches
- Finacle processed 279 million business transactions per hour (i.e. 446.76 million effective transactions per hour) which is equivalent to more than 77,000 business transactions per second (i.e. more than 124,000 effective transactions per second), to manage workloads comprising customer touch points across delivery channels and third-party systems
Michael Reh, Executive Vice President, Infosys and CEO (designate), EdgeVerve:
"The test results confirm that the Finacle Core Banking Solution on an Oracle system offers banks the scalability required to manage spikes in current transaction volumes as well as the scalability banks require to profit from vast data volumes in the future."
Ganesh Ramamurthy, Senior Vice President, Product Development, Oracle:
"Oracle's SuperCluster M7 and SPARC T7 and M7 systems offer breakthrough technology for memory intrusion protection and encryption, with hardware acceleration for Oracle Database In-Memory - a combination that's particularly powerful for banking and financial services. Infosys' latest Finacle results on SuperCluster M7 demonstrate the superior performance, efficiency and security capabilities of SPARC M7 with Oracle Database 12c and WebLogic Server 12c for critical banking functions."
- Finacle Core Banking version 11.1.2, Oracle SuperCluster M7, Oracle SPARC T7 and M7-16 servers, Oracle Database 12c , Oracle WebLogic Server 12c, Oracle Solaris 11.3, Oracle Solaris Studio 12.4 and the Oracle All Flash FS Storage System
- The test was simulated on a Finacle database of size 65 terabytes having 210,026 branches, 1,203,000,003 customers, a total of 2,012,663,823 accounts and 18,057,600,000 transaction history
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers - nearly 16.5 percent of the world's adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others. To know more, visit www.finacle.com
About EdgeVerve Systems Ltd
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software products and offers them on-premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients' growth in rapidly evolving areas like banking, digital marketing, interactive commerce, distributive trade, credit servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our universal banking solution, is the choice of financial institutions across 84 countries and serves over 547 million customers - nearly 16.5 percent of the world's adult banked population. To know more, visit www.edgeverve.com
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