WANdisco, a distributed and cloud computing service provider, witnessed a 13 per cent surge in trading on Wednesday – an aftermath of acquiring a contract with US based banking giant Capital One Financial Corp.
WANdisco’s Big Data tech will assist the bank in monitoring transactions trends in real time, according to a Financial Times report that cited people close to the deal.
Chief executive, David Richards believes that the partnership brings in a new phase of ‘moving from trials to full-blown implementations, adding the coming months were likely to bring in several more.’
It allows for rapid return to complex queries from subject data contrasting conventional analytic methods. The proprietary technology enables 100% uptime and 100% real-time data access across widely distributed, deployments of Hadoop, Subversion and Git, explains WANdisco.
“It has invested heavily in technology that harnesses the power of multiple computers in the cloud to let data to be stored and updated almost instantly from many locations, as well as crunched with clever algorithms,” according to FT.
This has been the Sheffield, England and San Ramon, California, based WANdisco’s first contract in the financial services sector and it has had a tough year with vending its analytics product to “risk-averse corporate clients”.
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(Image Credit: Andreas Poike)