IBM's Products and Solutions Support Centre (PSSC) characterised the study as one of the largest and most thorough benchmarks ever carried out at the center. It was the result of many person-months of preparation, execution and analysis work.
"This was one of the largest benchmark studies we have undertaken and the results show that Fidelity's Corebank solution can adequately cope with volumes typical of the largest global banks and behave in a predictable and scaleable fashion," said Laszlo Galfi, senior project manager for IBM at the PSSC, Montpellier, France. "Our benchmark facility has extensive expertise in running projects of this nature and we were delighted to help Fidelity replicate significant banking transaction volumes with Fidelity's Corebank."
Working seamlessly with the underlying IBM technologies z/OS, DB2, CICS the benchmark demonstrated that Corebank scales to support the real-time processing needs of the world's largest retail banks. The benchmark, carried out on a 36 million active account database demonstrated excellent scalability in a Sysplex environment, indicating a potential maximum performance many times those measured by the benchmark and ensuring that even the largest banks in the world will have room to grow.
One of the key design principles of Corebank has been to exploit the underlying IBM technologies on which Corebank has been built. Corebank is a 'well-behaved application' with nohas proprietary transaction manager or database but builds on the strength of DB2, CICS and z/OS. This allows Corebank customers to take advantage of the ongoing investment that both IBM and Fidelity are making in the technologies.
The benchmark was unique in that it replicated a production environment. The Corebank benchmark delivered an impressive online throughput of 1400 transactions per second sustained for more than 16 hours. This equates to more than 5 million transactions per hour over 40 million transactions in an 8-hour day.
Measuring simultaneous on-line and batch transaction rates is especially relevant in today's real time, 24x7 banking world. Corebank executed 1000 online transactions per second while the batch was simultaneously handling 5000 clearing transactions per second on the same database. This results in the potential to process more than 21 million transactions per hour.
"I am delighted with the results of this research," said Michelle Bowen, vice president and director of Fidelity Information Services' international product strategy and business development. "Core banking systems are critical to the survival of retail banks and these results demonstrate that Fidelity's Corebank solution can scale to support the very largest global banks. This study has proved that Corebank can easily cope with the very highest volumes in a stable and consistent manner."
Corebank is an integrated set of robust functional core banking components that have been designed to allow financial organizations to upgrade legacy processing applications in a flexible manner to minimise risk and to deliver business value quickly. Financial organizations can select specific Corebank components to meet specific requirements using a phased implementation approach to gain business process improvements and increased operational resilience.
Fidelity National Financial, Inc. (FNF), number 326 on the Fortune 500, is a provider of products, services and solutions to the real estate and financial services industries. The company had total revenue of $5.1 billion and earned more than $530 million in 2002, with cash flow from operations of nearly $815 million. FNF is the nation's largest title insurance company and also performs other real estate-related services such as escrow, default management, mortgage loan fulfilment, exchange intermediary services and homeowners, flood and home warranty insurance.
FNF is also one of the world's largest providers of information-based technology solutions and processing services to the mortgage and financial services industries through its subsidiary Fidelity Information Services, which has over 1000 customers in more than 50 countries and territories. It processes nearly 50 percent of all U. S. residential mortgages, with balances exceeding $2 trillion and has processing and technology relationships with 45 of the world's top 100 banks who rely on Fidelity Information Services' processing and outsourcing products and services.