Pismo activates ledger update to supercharge clients' processing scalability

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Jun 24, 2024, 08:00 ET

New enhancement enables 3,000+ transactions per second (TPS) for every single account Pismo clients operate

BRISTOL, England, June 24, 2024 /PRNewswire/ -- Pismo, a global cloud-native core banking and card processing provider, announced a significant enhancement to its core authorisations engine. The upgraded system now supports 3,000+ concurrent TPS for each customer account, a volume of transactions ten times greater than the previous version.

This update addresses the needs that large business customers require of their financial institution in an always-on world. It supports organizations during high volume traffic surges, payroll, and more. These key accounts require the highest levels of throughput, availability, and scalability and will benefit the most from this update. Pismo will be upgrading all clients over the next six weeks.

"The ledger is the heart of a banking system. It manages account balances and limits, keeps track of the change in account balance, and validates if an account has enough balance for a transaction. Speed and accuracy are pivotal," says Juliana Binatti, co-founder and CPO at Pismo. "By offering a streamlined system that can handle 3,000+ simultaneous transactions per second in every single account, we are giving our clients the peace of mind to deal with traffic surges, helping them improve their client's experience."

The platform update took 18 months, including research, development, and extended testing. Pismo tested the enhanced ledger with the participation of a Tier 1 banking client. The rollout for current clients will occur over the next two months. New clients will be onboarded with this new functionality immediately.

Business as usual

As a cloud-native provider, API updates are not new for Pismo. The company provides more than 400 deployments on its platform monthly. Adopting a best-in-class continuous delivery process makes it possible to offer regular security and performance enhancements, and new features without impacting the platform's 99.99% uptime. With no action required by the clients and with full transparency, Pismo clients will enjoy the benefits this latest update provides.

Pismo processes more than 108 million accounts*. It has headquarters in Brazil, with offices in the UK, US, India, and Singapore, and more than 500 employees. Pismo has broad product coverage, including core banking, payment processing, card issuing, digital wallets, lending, transaction banking, and financial asset management functionalities. After being acquired by Visa International in January 2024, the company remains network agnostic, working with the leading card networks.

*Pismo platform data - May 2024.

Media contacts:

Pismo
Patricia Bartuira
+1 (786) 270-6253
[email protected]

Debora Fortes
Pismo
[email protected]

SOURCE Pismo