Bankinter Analyzes Loan Portfolios 100X Faster with TIBCO and Amazon Web Services
Leading Spanish Bank Leverages Grid and Cloud Computing Solutions to Improve Performance and Lower Cost of Financial Analysis Systems
TIBCO Software Inc. (NASDAQ: TIBX) today announced that Bankinter, a leading Spanish provider of banking and brokerage services, is leveraging cloud computing solutions from TIBCO and Amazon Web Services™ to help mitigate risk and accelerate the complex modeling and simulations of loan portfolios that enable the bank to predict how loans will perform.
When Bankinter's demand for risk modeling became constrained by existing capacity and vertical scaling was no longer possible, the bank chose to integrate TIBCO GridServer® software hosted on Amazon Elastic Compute Cloud™ (Amazon EC2™) to deliver scalable, on-demand technology resources. Bankinter now has adjustable computing capacity without the costly hardware upgrades so it can increase its flexibility to address new business requirements in real time and ensure the secure management and analysis of highly sensitive data.
"Working with TIBCO and Amazon Web Services enabled us to speed the performance of complex loan portfolio analysis by a factor of 100, while significantly reducing the cost of hardware required for this class of computational finance systems," said Pedro Castillo, Innovation Director at Bankinter.
"We see a growing demand for TIBCO GridServer software across our customer base, particularly for businesses that need timely access to information by reducing processing time from hours and minutes to seconds," said Peter Lee, Senior Vice President, DataSynapse Product Group, TIBCO. "By enabling customers like Bankinter to transition their grid to Amazon EC2, users can tap a virtually unlimited pool of high-powered grid resources at a much lower cost."
"We are pleased to be working closely with TIBCO to help enterprises move more grid computing workloads to the cloud," said Terry Wise, Director of Business Development, Amazon Web Services LLC. "TIBCO's grid server software along with the scalability, elasticity and pay-as-you-go pricing of Amazon Web Services is helping Bankinter satisfy its increasing business demands for faster time to market and lower costs."
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimizing claims, processing trades, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage™ – the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com.
TIBCO, TIBCO GridServer, the two-second advantage, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. Amazon Web Services, Amazon Elastic Compute Cloud, and Amazon EC2 are trademarks of Amazon.com, Inc. or its affiliates in the United States and/or other countries. All other product and company names and trademarks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.