Modern Systems Powering Millions of Financial Transactions Per Second
IT leaders at the 12th annual MIT Sloan CIO Symposium on May 20th took on the topic of how to accelerate success via technology. Attendees were particularly interested in an afternoon panel, “Cashing in on Your Data.” Moderated by MIT Sloan School IT researcher Barbara Haley Wixom, panelists discussed how they are raising their strategic value for their organizations by repurposing their data as a new product/service offering.
Moderator Wixom noted: “CIOs are under pressure to generate value for their companies.” Going beyond deploying and maintaining systems all the way to creating new products based on market need certainly gets that job done.
Steve Emmerich, chief architect for banking and payment system provider ACI Worldwide, talked about how his company has found a new customer audience for analytics surrounding its core payment processing services. “This is an add-on to our core transactional products,” said Emmerich.
In addition to needing an exceptionally robust environment on which to deliver the transactional services, ACI Worldwide now has invested in systems to deliver the new analytics-based solution.
“The speed at which analytics results are needed is accelerating every day,” he said. “The data volumes are growing. It’s a real-time world. The techniques we used to use are now obsolete.”
The most advanced systems – hardware, software and databases – form the foundation for a modern information business like ACI Worldwide. In addition to rock-solid reliability, security and accuracy, the ability to scale the technical environment is key, especially when you consider ACI Worldwide powers electronic payments and banking for more than 5,600 banks, retailers, billers and processors around the world. ACI software processes $13 trillion in payments and securities transactions for more than 300 of the leading global retailers and 21 of the world’s largest banks.
ACI Worldwide’s transactional systems feature in-memory databases that are horizontally scalable with zero downtime, said Emmerich. Advanced transactional databases are critical for a major global company like ACI Worldwide to do business.
Lauren Gibbons Paul, a freelance business/technology writer and editor, covers topics from big data and analytics to social and mobility. She regularly contributes to various publications, including CIO, Computerworld, Network World and State Tech magazine.