Huawei Selects VoltDB to Power Financial Services Fraud Detection Solution FusionInsight
VoltDB In-memory Database Implemented in Credit Card Fraud Offering Used by Leading Chinese Bank
BEDFORD, Mass., April 19, 2017 /PRNewswire/ — VoltDB, the only in-memory transactional database for applications that require an unprecedented combination of data scale, volume, and accuracy, today announced it has been selected by Huawei as enabling technology in the tech giant’s FusionInsight platform. The company has also been approved as a corporate-wide supplier to Huawei Technologies Co., Ltd.
VoltDB was chosen for its real-time decisions, low latency, high availability, elastic scalability and strong consistency. The Huawei FusionInsight platform is a Big Data Solution used by China’s enterprises and retail financial services institutions to implement real-time history queries, credit investigations and build new event marketing services focused on customer-oriented precision marketing. With VoltDB, Huawei FusionInsight brings credit card fraud detection latencies down dramatically, from current batch processing windows to real-time responses.
“Huawei chose VoltDB not only for its ability to dramatically reduce current fraud detection latencies, but also for future applications which will automate real-time, in-process fraud detection, with the potential to save millions of dollars,” said David Flower, president and CEO, VoltDB. “We are partnering with Huawei as it develops fraud detection solutions that demand high-throughput requirements, ranging from hundreds of thousands of transactions per second to more than a million per second at peak times. Huawei’s selection of VoltDB reinforces our value in core vertical markets, including Financial Services and Telco. Huawei believes VoltDB is the right product to deliver predictable low latency, 100 percent correct data and scalable architecture.”
For more information about VoltDB, visit https://voltdb.com/.
VoltDB provides the only in-memory transactional database for applications that require an unprecedented combination of data scale, volume, and accuracy. Unlike other databases, including OLTP, Big Data, and NoSQL, only VoltDB supports all three modern application data requirements: VoltDB processes data points from millions of users and sources; ingests, analyzes, and acts on data in milliseconds; and data managed by VoltDB is accurate all the time, for all decisions. Telecommunications, financial services, advertising, gaming, Internet of Things (IoT) and other industries rely on VoltDB to modernize their applications. VoltDB was founded by a team of world-class database experts, including Dr. Michael Stonebraker, winner of the coveted ACM Turing award.