Sterci Processes 3.65 Million Financial Messages with 57% Lower Total Cost of Ownership by Using Engineered Systems
 
 

Sterci Processes 3.65 Million Financial Messages with 57% Lower Total Cost of Ownership by Using Engineered Systems

Sterci S.A., a privately owned company headquartered in Geneva, is a leading provider of financial messaging solutions with branches in Zurich, Frankfurt, London, Paris, Toronto, New York, Riyadh, and Singapore. Every day, the world’s largest banking groups, financial institutions, monetary authorities, and corporations rely on Sterci GTSuite® to improve efficiency and business agility while reducing costs and risks. An official partner of SWIFT—Society for Worldwide Interbank Financial Telecommunication, the worldwide financial network cooperative owned by banks—with full accreditation for GTSuite®, Sterci is also ISO 9001:2008 certified by the Swiss Association for Quality and Management Systems (SQS).

Sterci’s GTSuite® is a comprehensive portfolio of solutions for financial messaging, enterprisewide reconciliation, integration of business flows, and market data management. GTExchange®, the company’s high-performance financial messaging solution, is designed to support multiple networks and provide an open, service-oriented architecture for integration, transformation, message management, and connectivity.

 
 

 
 

Challenges

A word from Sterci S.A.

  • “With the incredible throughput of 3.65 million financial messages per hour, we believe that our GTExchange® powered by Oracle Exadata, Oracle Exalogic, and other Oracle technologies is the world’s fastest product in the payment arena.” – Frédéric Viard, Marketing and Pre-sales Director, Sterci S.A.

  • Provide financial institutions, monetary authorities, and corporations with higher message throughput for the real-time processing of their cross-border payments and financial flows
  • Manage rapidly increasing payment data volumes arising from significant mergers and acquisitions among key players in the financial services industry and the introduction of payment factories and messaging hubs
  • Enable financial institutions, monetary authorities, and corporations to comply easily with new messaging standards, financial market initiatives, and government directives, such as Single Euro Payments Area (SEPA)

Solutions

  • Deployed Oracle Exadata Database Machine to operate the company’s GTExchange® messaging solution with extreme performance for all types of database workloads in a system architecture that has no single point of failure
  • Deployed Oracle Exalogic Elastic Cloud X2-2 as a data center building block to provide the highest performance, reliability, availability, and scalability for GTExchange®, improving the customer experience by dramatically reducing application response time and improving usability
  • Delivered a total cost of ownership (TCO) that is 57% lower over five years than the TCO of a proposed system made by a competitor of Oracle
  • Provided financial institutions, monetary authorities, and corporations with unmatched performance for real-time electronic financial and securities transactions—including message entry and repair, template creation, routing, printing, SWIFT relationship management application (RMA), supervision, and monitoring—while easing compliance with financial services industry standards and regulations
  • Achieved an impressive 365% improvement on message throughput, compared to the previous environment—going from 1 million message flows per hour to 3.65 million message flows per hour
  • Won a contract, based on Oracle Exadata benchmarking, to switch several million financial messages per day from the application to SWIFT and from SWIFT to the application for a large, top-tier bank, including the handling of the bank’s internal application-to-application message flows
  • Enabled the rollout of the resulting GTExchange® project for the top-tier bank with more than 2,000 concurrent users across 160 countries over a period of two years, anticipating a peak of traffic with 1.2 million financial messages per hour and expected growth of 15% per annum
  • Ensured maximum resilience and quality of service by allowing real-time synchronous replication to remote stand-by databases for recovery purposes with Oracle Active Data Guard  because the strict requirements for payment applications do not permit any failure
  • Enabled the company to replace outdated legacy messaging products of major banks with GTExchange® and GTX Thin Client following a structured approach based on Oracle Tuxedo 11g, Oracle WebLogic Server 11g, and Oracle Database, Enterprise Edition 11g to eliminate deployment risks
  • Teamed up with Oracle Consulting on a proof of concept and benchmark test to address mass volume processing requirements in Sterci’s GTExchange®, using Exalogic’s quick deployment, reliability, and manageability capabilities to reduce system complexity and complete the proof of concept within two weeks

Why Oracle

“Oracle Exalogic and Oracle Exadata deliver outstanding performance and have a far lower total cost of ownership than competing systems. The deployment enabled us to win a large, top-tier bank, where we will be responsible for managing the global financial messaging infrastructure across 160 countries,” said Etienne Savatier, associate partner, international sales and partnerships director, Sterci S.A.