Real-time computing. Real-time news.
October 01, 2007
Société Générale Grid-Enables Credit Risk System
Platform Computing announced that Société Générale Corporate & Investment Banking has expanded its grid infrastructure with Platform Symphony. One of Europe’s leading investment banks, Société Générale Corporate & Investment Banking has deployed Platform Symphony to accelerate credit risk calculations, provide a scalable infrastructure and drive competitive advantage.
The success of
this project opened up new opportunities to extend its grid environment
to encompass all areas of credit risk management. As part of this
process, Platform Computing developed a seamless integration to Société
Générale Corporate & Investment Banking’s existing risk management
application from Algorithmics. Société Générale Corporate &
Investment Banking was also able to greatly reduce capital costs
through eliminating high-cost SMP servers in exchange for low-cost,
standards-based IBM Linux clusters. Through extending its overall
capabilities, Société Générale Corporate & Investment Banking has
the ability to further accelerate application performance, reduce
infrastructure costs and support the upcoming growth of Société
Générale Corporate & Investment Banking market activities.
"As
one of Europe’s leading financial services institutions, it is
imperative that we maximize the performance and efficiency of our IT
environment to get business-critical information to our clients
faster," said Martine Boullé, chief information officer of corporate
and risk systems at Société Générale Corporate & Investment
Banking. "Through a close working relationship with Platform Computing,
we have extended our grid infrastructure to new lines of business,
seamlessly migrating our existing risk management applications and
reducing the overall capital costs of our IT hardware. Today, Société
Générale Corporate & Investment Banking is introducing new
innovative products on the market, and the risk infrastructure is
scaling seamlessly to support our operations."
"The investment
banking industry lives and breathes real-time, needing instant access
to information to make the right business decisions for their clients,"
said Charles Jarvis, vice president of financial services for EMEA at
Platform Computing. "Through extending the benefits of grid computing
with Platform Symphony, Société Générale Corporate & Investment
Banking has created a robust, scalable environment for global risk
management that reduces time-to-information and lowers the total cost
of IT ownership."
About Platform Computing
Platform
Computing is the leading systems infrastructure software company that
accelerates applications and delivers IT agility for increased business
performance and reduced cost. Founded in 1992, Platform is a pioneer in
HPC, cluster and grid computing technologies. Platform has over 2,000
global customers and strategic relationships with Dell, HP, IBM, Intel,
Microsoft, Red Hat and SAS, along with the industry’s broadest support
for third-party applications. For more information, visit www.platform.com.
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Source: Platform Computing-----
Source: Platform Computing
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