Société Générale Corporate & Investment Banking Grid Enables its Credit Risk System with Platform Symphony

Platform Computing today announced that Société Générale Corporate & Investment Banking has expanded its grid infrastructure with Platform Symphony. One of Europe’s leading investment banks, Société Générale Corporate & Investment Banking has deployed Platform Symphony to accelerate credit risk calculations, provide a scalable infrastructure, and drive competitive advantage. The success of this project opened up new opportunities to extend their grid environment to encompass all areas of credit risk management. As part of this process, Platform Computing developed a seamless integration to Société Générale Corporate & Investment Banking’s existing risk management application from Algorithmics. Société Générale Corporate & Investment Banking was also able to greatly reduce capital costs through eliminating high-cost SMP servers in exchange for low-cost, standards-based IBM Linux clusters. Through extending their overall capabilities, Société Générale Corporate & Investment Banking has the ability to further accelerate application performance, reduce infrastructure costs, and support the upcoming growth of Société Générale Corporate & Investment Banking market activities.

“As one of Europe’s leading financial services institutions, it is imperative that we maximize the performance and efficiency of our IT environment to get business-critical information to our clients faster,” said Martine Boullé, Chief Information Officer, Corporate & Risk Systems, Société Générale Corporate & Investment Banking. “Through a close working relationship with Platform Computing, we have extended our grid infrastructure to new lines of business, seamlessly migrating our existing risk management applications and reducing the overall capital costs of our IT hardware. Today, Société Générale Corporate & Investment Banking is introducing new innovative products on the market, and the risk infrastructure is scaling seamlessly to support our operations.”

"The investment banking industry lives and breathes real-time, needing instant access to information to make the right business decisions for their clients,” said Charles Jarvis, Vice President EMEA, Financial Services, Platform Computing. “Through extending the benefits of grid computing with Platform Symphony, Société Générale Corporate & Investment Banking has created a robust, scalable environment for global risk management that reduces time-to-information and lowers the total cost of IT ownership.”