Case Studies
Accelerating HPD Lendscape Factoring Services with The Hazelcast Platform
Overview
Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Infrastructure as a Service (IaaS) - Cloud Storage Services | |
Finance & Insurance | |
Business Operation | |
Fraud Detection Real-Time Location System (RTLS) | |
Cloud Planning, Design & Implementation Services Software Design & Engineering Services System Integration | |
Operational Impact
The Hazelcast Platform has ensured that the database access is no longer the bottleneck—the platform is now only limited by its hardware constraints. The feedback that was given to Hazelcast by the Head of Engineering was, “The good thing about Hazelcast is it just works…” HPD Lendscape has seen a much-reduced number of issues around data access speeds since deploying Hazelcast enabling the system to process data well within SLAs. As a real-time, transaction processing system, the need for performance is pervasive. Having the best performance can differentiate your business from the competition and is critical to the success of the business. Deploying Hazelcast has offered other benefits – “The good thing about Hazelcast is it just works…” Head of Engineering HPD Lendscape they were able to benchmark against the European volume of data for factoring using data generation tools that simulate real-time processing and conduct several tests, including soak and performance tests, uploading invoices and debtors, for example. | |
The predictions for factoring suggest that there will be an even greater demand to reduce the elapsed time from application to cash-in-hand. In addition, as the uncertainty of the economic environment continues, more online onboarding and direct digital payments are predicted to be essential for providing capital quickly. As a result, factoring companies will need to ensure that they can manage risk effectively. | |
The latest version of Hazelcast offers both in-memory storage for fast access as well as stream processing capabilities as one solution with one code base. Combined, these capabilities offer critical use cases such as fraud detection and risk mitigation. Hazelcast’s machine learning capabilities could also play a part in reducing risk and minimising fraud. In addition, Hazelcast will be extending its HighDensity Memory Store capabilities so that even more data can be stored per server, thus reducing the overall footprint. | |
Quantitative Benefit
The factoring market size value is approximately $3,235.88 billion (USD) globally, as of 2020 with a projected growth to $5,384.00 billion (USD) by 2027. | |