Despite a recent slowdown in the most recent quarter, year-on-year the Register reports that cloud spending is still up by double digit percentage points. And this is reflected in the growing number of Temenos customers seeking to move their applications onto cloud infrastructure and Temenos’ own exciting plans for SaaS delivery represent another data point.
Enterprises and users increasingly expect software to be delivered “as a service”: always on, always responsive and accessible from anywhere. In response, Independent Software Vendors (ISVs) are increasingly adopting microservices-based architectures to accelerate applications delivery onto flexible cloud infrastructure.
Achieving a Modern Data Layer
But one theme frequently emerges amongst financial services enterprises: data layer modernization lags behind infrastructure transformation (rapid multi-cloud adoption) and applications innovation (from monolithic applications to containerized and orchestrated microservices).
As they seek to modernize the data layer, enterprises have faced difficult compromises in the data underpinning business-critical operational, transactional applications.
- Option one: ‘Lift and shift’ traditional relational databases (RDBMS) for strong transactional consistency and a familiar and rich SQL ecosystem, but retain a monolithic millstone at the heart of their cloud native solution stack.
- Option 2: Adopt a NoSQL database to grasp the advantages of horizontal scaling and in-built high availability but lose strong data consistency and add-in increased application complexity
To update an old saying, “the cloud changes everything”.
New ISVs are adopting a cloud-first, if not cloud-only, service delivery model. Established players see the opportunity of cloud and recognize the threat from nimbler, cloud native disruptors. The world of software services delivery has a well-established four-point spectrum.
On Premise-Only ⟺ Cloud-Also ⟺ Cloud-First ⟺ Cloud-Only.
Whichever points on the software services delivery spectrum an ISV chooses to cover, they know they cannot just remain at the first one and survive.
Why Temenos Chose YugabyteDB
Temenos has been proactive in building a data layer for the future, grasping the opportunities presented by this new reality.
They recognized early that YugabyteDB isn’t just another SQL database; it is open source (every feature), cloud native (distributed, resilient and scalable), cloud agnostic (public, private, hybrid, or on premise), and with multi-record, ACID transactional consistency (an essential capability for core banking applications).
Temenos demanded and YugabyteDB delivers:
- Architectural Simplicity: YugabyteDB’s advanced storage layer automates complex tasks like sharding and re-balancing, to simplify app development and deployment.
- Resilience and zero downtime – With automatic data distribution and replication YugaybteDB delivers resilient services that survive node, zone, data center, and region failures. Plus, planned maintenance and upgrades incur zero downtime.
- Flexible Deployment Choices: YugabyteDB deploys anywhere: on-premises, public/private cloud, hybrid cloud, or fully-managed DBaaS.
- 100% Open Source: YugabyteDB is a PostgreSQL-compatible and completely open-source database. Yugabyte is committed to open standards, avoiding cloud or platform lock-in.
This extensive range of capabilities allows Temenos to meet the needs of a broad range of customers, on a cloud-agnostic platform.
Temenos set Yugabyte and its other partners the challenge of doubling the throughput of the Temenos High Water Benchmark, while lowering the environmental footprint and the infrastructure costs.
That achievement was instrumental in Temenos making the decision to certify YugabyteDB to power the core banking capabilities of Temenos open platform for composable banking.
Temenos customers can now confidently pursue their digitalization goals knowing that Temenos can deliver their part of that transformation, whatever the scale and whatever cloud service provider partner they choose.