VERO Selects TIBCO to Support Fast, Customized Banking Services Anywhere, Anytime
Electronic Financial Services Provider to Deploy In-Memory Platform to Expand Market Presence, Minimize Costs with Unified Architecture
TIBCO Software Inc. (NASDAQ: TIBX) today announced that VERO™, provider of high-performance automated financial services to banks, credit unions and retail locations, will employ TIBCO's in-memory platform to help deliver real-time processing speeds, and ensure data integrity and consistency of transactions in the most demanding environments.
Transaction processing in banking has traditionally been dominated by a three-tiered or legacy architecture that is inflexible and costly to scale. This diverse collection of legacy technologies, including mainframes, application servers, databases, and transactions processors often results in complex integrations and disjointed systems.
VERO will be making extensive use of TIBCO ActiveSpaces® Transactions to manage the high performance and "always-on" availability requirements that are expected from its automated financial services solution. Millions of members and customers will benefit from the convenience of executing common financial transactions such as making deposits, cashing checks, or accessing accounts in convenient locations anywhere, anytime of the day.
TIBCO ActiveSpaces Transactions provides a fully distributed, in-memory transaction management mechanism that has been benchmarked to run more than 2,000 transactions per second for credit card acquiring applications in a high-availability environment running on commodity hardware.
"The rapid growth and importance of the 'unbanked' customer segment in need of automated check cashing services, coupled with the exponential increase in transactions and the pressure to process complex financial transactions more rapidly drove us to TIBCO," said Matthew Buhler, Executive Vice President and Co-Founder at VERO. "With an in-memory architecture, we will now be armed with the ability to process data in real-time in order to effectively address the current rigorous business requirements for financial service kiosk applications, as well as support the long-term business growth of our customers."
"More and more businesses are evolving to become event-driven and using in-memory technology to process and access data in real-time, particularly segments that deal with a high number of transactions, like banking, airlines or utility smart grids," said Murat Sonmez, Executive Vice President, Global Field Operations, TIBCO. "With TIBCO, VERO is now able to effectively process and exchange data significantly faster, allowing them to rapidly respond to market trends and seize new opportunities."
VERO™ is an innovative Electronic Financial Services technology provider. Our Software-as-a-Service (SaaS) model provides Financial Institutions and Retailers with a complete solution for delivering automated financial services to customers and non-customers alike. Our clients leverage the VERO solution to increase market coverage, create incremental revenue, improve efficiency, deliver new services and acquire new customers. Learn more at www.trustvero.com
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, two-second advantage, ActiveSpaces, TIBCO ActiveSpaces Transactions, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.