Bangalore: Infosys has announced that the Finacle Payments solution, an enterprise payment services hub, running on Oracle SPARC T5 servers with Oracle Solaris 11.2 has set a new global benchmark for the volume of inter-bank payment transactions processed.
In a test that was validated by the professional services firm EY, the solution processed over 100 million payments in 79 minutes, which translates to over 75 million payments per hour or over 21,000 payments per second. This was achieved with stable performance and near linear scalability, underlining Finacle’s ability to manage continuous increases in volumes, with simple hardware additions and no changes in the underlying application.
With this, the Finacle Payments solution demonstrated the capability to process a high volume of inter-bank payment transactions, more than what is currently processed by the entire US banking system, based on estimates. At an average of 21,000 payments per second, the Finacle solution is able to process almost five times the known volumes processed by the entire US banking system, which is estimated to be about 4,233 transactions per second on average. This capability supersedes known inter-bank payment transactions volume requirements of banks of all sizes.
Inter-bank payment transactions globally consist of both high and low value payments and these are typically processed in large quantities. Finacle Payments, a robust, reliable and highly scalable solution, addresses such high volume requirements of interbank payments across various payment networks and supports the future growth of banks.
In a statement, Michael Reh, Senior VP & Global Head – Finacle, Infosys said, “As customer engagement models transform, new payment options and platforms are driving a surge in non-cash payment volumes globally. Efficient, robust and scalable payment solutions are critical for financial institutions to manage growth confidently. With this benchmark, Finacle running on Oracle SPARC T5 servers has clearly demonstrated its reliability in supporting banks with large payment volumes as well as helping them future proof the ability to manage increasing volumes at significantly lower costs.”
Troy Richardson, Senior VP, Strategic Alliances, Oracle said, “Infosys’ decision to test its new Finacle Payments solution on Oracle SPARC T5 servers as the first platform, demonstrates their confidence in Oracle’s systems platform to deliver the highest level of scalability, availability and security required for this mission critical application.”
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