Why HPC Is Important to the Financial Services Industry

maltiger

In the quest to beat the market while reducing the risk of another global financial crisis, financial services organizations around the globe are adopting high-performance computing (HPC) solutions at a record pace. According to the latest numbers from Intersect360 Research, the financial services industry is the largest commercial vertical market for HPC. Why is HPC so important to financial services organizations?

The answer is easy: insight. HPC computing—especially with artificial intelligence and deep learning capabilities applied—is like a crystal ball. Investment firms can use it to predict stock trends and trade with millisecond timing. Banks can use it to improve fraud detection and reduce lending risks by getting a deeper profile of their applicants. All of this works in favor not only of the financial institutions, but of their customers as well. More money can be made in the stock market, and lower, more personalized interest rates can be offered. And, of course, peace of mind results from customers knowing that their bank is keeping a watchful eye on their checking and credit card accounts to ensure that only valid purchases and activities are allowed.

Although HPC computing has become fundamental to financial services operations, reaping the full benefits of HPC can be fraught with challenges. For example, any amount of downtime is disastrous. A 1-minute outage at a Wall Street investment firm can cost millions of dollars in lost trading opportunity. As more and more information is gathered from multiple sources, financial institutions are struggling to keep up with data management. They need an infrastructure that can handle extreme workloads yet is easy to deploy, manage, and scale.

With the NetApp® HPC solution, you get industry-leading price/performance in a true pay-as-you-grow solution for your high-performance workloads. Built on a modular NetApp E-Series storage architecture, the solution can support multipetabyte datasets and file systems such as Lustre, IBM Spectrum Scale, and BeeGFS. Get consistent, near-real-time access to financial data with the ability to deploy and configure performance and capacity on the fly as your needs dictate. And with the flexibility to support 100Gb InfiniBand (IB), 100Gb NVMe over Fabrics (NVME-oF), 32GB FC, and 12Gb SAS connectivity, you don’t have to worry about standing up expensive equipment or racking up power, cooling, and support costs for gear you use for only a limited time.

NetApp HPC enables you to:

Optimize reliability. Enjoy 99.9999%+ availability and industry-leading durability, based on nearly 1 million units shipped.
Accelerate performance. Deploy systems that deliver top performance in industry-standard benchmarks.
Simplify operations. Integrate with your existing infrastructure and applications by using plug-ins, APIs, and orchestration tools.

To learn more about NetApp HPC solutions for financial services, visit www.netapp.com/hpc.

The post Why HPC Is Important to the Financial Services Industry appeared first on NetApp Blog.

https://blog.netapp.com/why-hpc-is-important-to-financial-services-industry/