MemVerge and Hazelcast to Co-Develop Big Memory Solutions for Financial Services

Together, real-time streaming and memory-first databases scale higher and are more available

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Jun 25, 2021, 07:30 ET

MILPITAS and SAN MATEO, Calif., June 25, 2021 /PRNewswire/ -- MemVerge™, the pioneers of Big Memory software, and Hazelcast, the fast cloud application platform, today announced a development and marketing partnership. The Hazelcast platform, featuring real-time streaming and memory-first database technologies, is being integrated with MemVerge memory virtualization and in-memory snapshot technologies to unlock Big Memory capacity and fault-tolerance. The technologies and software will be shaped into Big Memory reference architectures for Financial Services starting with Basel III Compliance solutions that will be introduced in the second half of 2021.

"Financial institutions are reporting that analytics jobs needed for Basel III compliance are growing in size and complexity," said Kelly Herrell, CEO of Hazelcast. "The reference architectures we develop with MemVerge will enable our customers to transform processes, accelerate the completion of jobs and increase the reliability of applications to capture value at every moment."

For IT organizations, channel partners, and vendors who need quick access to a Basel III Compliance solution, five Big Memory labs will be available for demonstrations, proof-of-concept testing, and software integration. Visit the Big Memory Lab page at memverge.com for information about capabilities and scheduling time in each lab: Arrow, Intel, MemVerge, Penguin Computing, StorageReview.com, and WWT.

According to Charles Fan, CEO of MemVerge, "The Hazelcast platform excels at large-scale computational jobs such as executing and scaling financial risk calculations. MemVerge Memory Machine™ software complements Hazelcast with the ability to scale-up memory capacity to terabytes per server with in-memory snapshots for fast crash recovery of an entire cluster. The combined power of Hazelcast and MemVerge will deliver superior performance and reliability to our joint customers in financial services."

About MemVerge
The advent of persistent memory is sparking a new era of Big Memory Computing where applications of any size can forgo traditional storage in favor of abundant, persistent and highly available pools of memory. Memory Machine™ software from MemVerge makes this possible by virtualizing DRAM and persistent memory to form a platform for enterprise-class in-memory data services. To learn more about MemVerge, visit www.memverge.com.

About Hazelcast, Inc.
Hazelcast is the fast, cloud application platform trusted by Global 2000 enterprises to deliver ultra-low latency for stateful and data-intensive applications. Featuring real-time streaming and memory-first database technologies, the Hazelcast platform simplifies the development and deployment of distributed applications on-premises, at the edge or in the cloud as a fully managed service. Hazelcast is headquartered in San Mateo, CA, with offices across the globe. To learn more about Hazelcast, visit https://hazelcast.com.

Media Contacts:
Steve Sturgeon
MemVerge
[email protected]
858.472.5669

Matt Wolpin
Hazelcast
[email protected]

SOURCE MemVerge