PALO ALTO, CA--(Marketwire - Apr 25, 2011) - TIBCO Software Inc. (
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.
Supporting Quotes:
"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."
About VERO
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
About TIBCO
TIBCO Software Inc. (
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.
Contact Information:
Media contact:
Tiffany Anderson
TIBCO Software Inc.
(650) 846-8737
tanderso@tibco.com