MPI Europe and Globant announce their strategic alliance to promote the migration of financial applications from legacy computer architectures to Intel’s latest Xeon 5500 processor technology.
This initiative, codenamed fasterAPPS, is fully supported by the successful Intel fasterLAB and a close working relationship with Intel forged over many years. The solution provides a low risk upgrade path by combining technical services and consulting, together with attractive commercial model.
This new Intel technology, launched worldwide on 31 March 2009, represents a generational change in computing power that makes a significant difference to business applications.
The strategic partnership will enable financial institutions to make use of this faster processing technology with the support of expert consulting, risk assessment and mitigation from MPI Europe, combined with Globant’s technology expertise to effectively migrate existing systems to the latest Intel’s Xeon 5500 processing technology. Intel, through its fasterLAB can provide extensive test environments to prove performance on realistic architectures and transaaction volumes.
“Counterparty credit risk requires banks to perform large simulations across thousands of scenarios, says Bob Boettcher, senior director, Algorithmics, Risk Solutions. “The latest Intel(r) Xeon (r) processor 5500 series delivers the computational performance to support real-time counterparty exposure measurement and credit checks, which helps our clients to make more accurate, risk-aware trading decisions.” Recent testing of Algorithmics on the latest Intel Xeon delivered benchmark results 40% faster than with the previous quad core processor.”
“The significant performance increases make this technology highly relevant for business today, where we see demands for lower latency, faster transaction processing and wider and more complex risk scenarios,” says John Cant, managing director for MPI Europe. “Initial client discussions have shown strong interest within the financial sector for migrating to this new environment.”
“Our extensive experience of migrating applications to new platforms and environments has enabled us to identify the potential barriers that could derail these projects, and design our solutions to overcome them,” says Rob Woolley, senior vice president for Globant EMEA. “This includes not just addressing the technical hurdles, but also the commercial aspects that are particularly important in these times of tight budgets.”
“I am delighted MPI Europe and Globant have embraced Intels latest generation of processors and look forward to seeing their clients engage with Intel at our fasterLAB,” says Nigel Woodward, industry director, Intel Finance.
“We will work with MPI Europe and Globant to help them understand the benefits of Intel Architecture and specifically Xeon 5500 series. Having brought Xeon 5500 to market, we now look to encourage collaboration between parties who can enable the market to realise the benefits where we can see full financial ROI inside 12 months – more than ever relevant in today’s economic climate”
L.D.