How to 10x your transactions on core banking!

Payment channels are evolving and the number of transactions are increasing exponentially.

New age payment systems are developed using micro services, distributed databases, in memory caching. This enables them to use Morden techniques to keep up with the pace of growing online payments.

However, have you ever thought of that these transactions will finally hit the core banking solution to maintain balances and ledgers.

And there is the bottle neck. Majorly many core banking solutions continue to be monolith. They have a single database. This means this element will slow you down. No matter which payment app you go for. As long as core banking solutions don’t evolve, this will always be a hurdle.

Even with monolith, a bank can add multiple application servers to but will be restricted to a single database. The only solution so far tried is add more cores and memory.

Well, I can think of another solution. In memory first database. But no bank would ready for in memory ?? Well you you read it right? It’s in memory “first”. Which mean you commit to memory and parallels write to disk. The older mechanisms were commit to disk and then store in memory.

With solutions like voltDB or SingleStore DB, you get these features plus they are RDMS compatible unless you are using triggers and procedures and functions 😱.

Now you can 10x your transactions until we have a core banking solution designed in the micro service and distributed storage first way.