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Société Générale Corporate & Investment Banking Grid Enables its Credit Risk System with Platform Symphony
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PARIS, France, September 25, 2007 – 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."
About Platform Computing
Platform Computing is the leading systems infrastructure software
company that accelerates applications and delivers IT agility for
increased business performance and reduced cost. Founded in 1992,
Platform is a pioneer in HPC, Cluster and Grid Computing technologies.
Platform has over 2,000 global customers and strategic relationships
with Dell, HP, IBM, Intel, Microsoft, Red Hat and SAS, along with the
industry’s broadest support for third-party applications. For more
information, please visit www.platform.com.
About Société Générale Corporate & Investment
Banking
A leading player present in over 45 countries across Europe, the
Americas and Asia-Pacific, Société Générale Corporate & Investment
Banking ranks third in the euro zone in terms of NBI. It is the bank of
reference for:
- Euro capital markets. A top 5 player across euro debt capital
markets (bonds, securitisation, loans), and a leader in French Equity
Capital Markets with European reach.
- Derivatives. A world leader in equity derivatives, and with
forefront positions in many interest rate, credit, foreign exchange and
commodities derivatives.
- Structured finance. A worldwide leader in export, project and
structured commodity finance with global expertise in energy,
infrastructure, real estate and media & telecom finance.
Tailoring solutions in terms of capital raising, financing, risk
management and investment, Société Générale Corporate & Investment
Banking combines expertise, innovation and advisory skills coupled with
quality of execution to both issuers and investors clients across debt
and equity. www.sgcib.com
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