Société Générale
Overview
- Sixth largest bank in Euro zone & ninth largest in France with 80,000 employees
- Internally developed proprietary risk analysis & pricing application that includes complex, scientific calculations and simulations involving hundreds of parameters
Challenge
- Increasing competitive pressure to provide faster, more comprehensive and reliable risk analysis and pricing advice to clients
- Meet regulatory requirements to assess daily market risk
- Stable & reliable environment to meet global needs on a 24x7 basis when uptime is critical
Solution
Platform Symphony
Results
- Positive pre-production test results demonstrate cost-effective computing power
- Reduction in application execution time and system administration
- Increased operational reliability
“We see grid computing as being relatively new for the financial services market. Because of Platform’s extensive experience and the track record of its technology in the industrial market however, we felt that Platform Symphony was mature enough for us to adopt it for our own competitive advantage and enhanced business performance.”
Alain Benoist, CIO, Corporate & Investment Banking, Société Générale Group
“…with the grid, if a machine goes down, the calculations are redirected to other machines and the malfunction has little or no impact on the overall performance of the application. In addition, the grid provides unique flexibility: We only need to add a server to our grid in order to scale up.”
Nicolas Narozniak, Commodities Department Project Manager
“Now, it only takes us one hour to perform calculations that we couldn’t even do before due to a lack of resources and time. Some calculations were taking more than 12 hours to process and had to be performed twice a day: it just wasn’t possible!”
Nicolas Narozniak, Commodities Department Project Manager