BANRED S.A. provides specialized financial transaction processing services, compensation of receipts and payments, and it ensures safe, high-quality information exchanges that meet the legal requirements of the public and private sectors. The company supports these functions through a specialized, state-of-the-art teleprocessing network.
BANRED’s two data centers, located in Quito and Guayaquil, together process 18 million monthly transactions from 90 affiliated financial institutions. Transactions vary from fund withdrawals from tellers’ windows, to balance verifications. To execute these transactions online, with full redundancy and contingency in both its data centers, BANRED worked with Oracle Platinum Partner redPartner S.A. to implement Oracle GoldenGate, as well as Oracle Database, Standard Edition, to eliminate manual data handling and make all information available online, 24/7, for banking clients.
Specifically, BANRED reduced the time to make information available online after replication, from at least one hour to five seconds. In addition, the company established a fraud detection and prevention system, fueled by online information. Further, it created new products and services to enhance growth and customer service.
“Information availability is critical, both for recovery schemes and for analyzing information. Oracle GoldenGate is so reliable that one of our technology dreams is to make it the standard for our client banks, eliminating the need for daily consolidation. Oracle played a very active role in planning our Oracle deployments, and it continues to participate in managing our solutions,” said Alejandro Mendiburo, technology leader for BANRED S.A.