Gresham computing providing control to financial services
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Gresham Computing provides financial services integration and data cleansing products. Their core products include Clareti Cash Reporting for real-time cash reporting, Clareti Integration for scalable integration across technologies, and Clareti Virtual Accounts for client money management. They are developing a new product called Project Darwin for more powerful reconciliations and controls across financial systems and processes. Gresham is using Gigaspaces as the data platform for Project Darwin due to its scalability, data grid capabilities, and adoption in the financial services industry.
Gresham computing providing control to financial services
- 1. Providing Control to Financial ServicesJason Turner |Gresham ComputingFebruary 2011
- 2. Gresham Computing PlcA solid name in Financial IT for more than 35 yearsProvider of real-time solutions and servicesCore expertise in:IntegrationData cleansingBest known products:Clareti Cash Reporting - Real time nostro cash reportingClareti IntegrationClareti Virtual Accounts2
- 3. Clareti Cash ReportingReal-time nostro cash messagingSWIFT accreditedMore than 30 correspondent feedsWide currency coverageWe acquire & clean data in the cloudDeliver busines ready information to your systems & usersRapid integration & assured clean data on demand3
- 4. Clareti IntegrationHighly scalable integrationWide range of adapters from Antique to Zeitgeist:From COBOL & screen scrape To JMS & GigaspacesEasy to use but powerfulGraphical UI defines configurationAble to drop to API code to handle edge casesEasy to maintainXML based configuration management4
- 5. Clareti Virtual AccountsClient money cash management solutionEnabling simple regulatory complianceClean integration5
- 6. Gresham Computing PlcWhat are we doing next?We have:good integration technology& great data servicesWe need to:leverage these with value added servicesbuilding out more capabilities for our customersBuilding a number of new products to leverage our core assets6
- 7. Project DarwinAn evolutionary leap in financial systems data controlPunctuating the equilibrium in that sectorMore than just reconciliationsMore powerful reconciliations & controlsSimple-to-configure reconciliations & controlsIntuitive - quick to bring on-stream & manageFlexible & clear – easy to modify & maintainVery high processing ratesIntelligence – very high auto-processing rates7
- 8. Organisations constantly innovate and commoditiseToday’sBoredomYesterday’s hot stuffProcesses need control across the innovation lifecycle
- 9. What are the banks doing?UK bank and US bank have initiated a complete analysis of their Institutional process flows.US.B estimate that within NAM and EMEA they will find 2,500 gaps (a place where a transaction can fail without detection) – based on analysis of NAM futures flowUK.B estimate that they will find 600 break pointsMost banks tell similar storiesCurrent solutions are not solving the innovation problem
- 10. Anecdotes and Quotes“What are the process controllers controlling? We should remove control from their job title”. COO US BankWhen is a hedge not a hedge? Let me tell you of the case of the missing 10Bn$A guaranteed investment opportunity?Currently $9Bn of operational fails over 7 days, giving a $1Bn capital provision100M$ of operational losses in FY10 (269M$ in FY08)
- 11. The Need = The OpportunityProvide an environment that rapidly addresses the innovation problemProvide controls in a non invasive way that allows innovation but manages riskProvide a risk repository that continuously measures , manages and reports upon operational riskAddress the 1BN$ per year that is lost to capital provision in the average institution12
- 12. Technical CharacteristicsEasy to implementNatural expression of business rules, logic & conceptsImmediate integrationAble to load customers data schema without manipulationLearn customers business practice based on AI techniquesRapidly scale1000’s of messages will be received per secondVolumes are bursty based on economic eventsHighly resilient and reliableControl becomes a mission critical application13
- 13. We love it when a plan comes together!14
- 14. Why Gigaspaces?We have successfully used Gigaspaces in other projectsGives us the ease of scalability we requireNo application server lock-inGives us a good toolset and story for OEMingPowerful data grid capabilitiesHas good take-up in our target customer baseGood support, communication and developmentDeveloper friendly15
- 15. More specifically…We have successfully used for product developmentDemonstrates good scaling characteristics when properly usedWe have assessed the efficiency of the memory usage & transportAnd found it to be very goodEnables scalabilityAPIs enable a good mix of precise control and agnosticism16
- 16. More specifically…Using to OEM we find the tooling and APIs niceAPIs allow us to expose flexible options to our customers around deployment, redundancy, failoverTooling makes this easy to manage for our customersTooling also allows us to report our metrics back to the customer in one placeClean APIs and Groovy support allow us to extend the toolset cleanlyWe anticipate a good experience with the web management console17
- 17. More specifically…Powerful data grid capabilitiesWe believe that the data grid will enable us to defer persistence to reduce database trafficThe Document API gives us flexibility around our data18
- 18. More specifically…Has good take-up in our existing and target customer baseCredit Agricole / CalyonCMECommerz BankDeutsche BankDow JonesMorgan StanleySoc ieteGenerale19
- 19. More specifically…Great online infoGood informative blogsCommunicative product management and consultantsResponsive and customer-focused supportDeveloper friendlyNice use of other technologiesSpringGroovyOpen to innovation20