Platform Computing Sees Growth in Financial Services Business
Platform Computing has announced it is continuing to see strong revenue growth in its financial services (FS) business as organisations move aggressively to reduce costs through the adoption of grid and cloud technology. This includes a contract with one of the largest banks in Europe. Accordingly, the company is investing heavily in its FS business unit including advancing its existing products, hiring new staff and accelerating the development of its new cloud solution, which addresses the needs of financial services to consolidate data centres.
Platform has just released a version of its financial services product Platform Symphony 4.1, which is designed to support the requirements of key banking processes such as intraday risk calculations, pre-trade pricing and end-of-day value at risk calculations. It also implements a utility service model that provides a sharing capability that financial services organisations are leveraging to achieve higher resource utilisation. This is designed to reduce costs and data centre energy usage while ensuring business service levels are met.