Dovetail Selects Caché Post-relational database for Dovetail Payments System™
New York – September 14, 2000 – Dovetail Systems Inc. (Dovetail), the provider of advanced payments processing applications and intelligent messaging and e-Payment solutions to the global financial services community, has signed a partnership agreement with InterSystems Corporation, a leading provider of high-performance database systems for Web applications. Under the terms of the agreement, Dovetail will incorporate InterSystems’ Caché e-DBMS technology into the Dovetail Payments System.
The Dovetail Payments System has been designed for Tier 1 and Tier 2 financial institutions to handle all inter-bank payments and funds transfer types, including new standards such as CLS, S.W.I.F.T. MT103, and those emerging from global e-commerce. Higher volumes of transactions and the demand for improved STP rates from global financial institutions have put increasing strain on existing databases. Dovetail’s search for a database technology partner widened beyond those suppliers traditionally found in the financial services sector, in order to find a company whose technology is highly scalable in any environment.
InterSystems, based in Cambridge, Massachusetts, has extensive penetration in the healthcare market, supporting more than half of the user seats in this sector. Other commercial customers come from a variety of industries, including transport, financial services, law and retail. The company’s flagship product Caché is a post-relational database that offers easy and rapid creation of sophisticated Web applications on top of a highly scalable and fast e-DBMS.
“The performance of Caché is particularly suitable for the business transaction management necessary for high-end payments processing,” says Bruce Hutcheon, President and Founder of Dovetail Systems. “InterSystems has met and exceeded the expectations we had of Caché and the company has proven to be exactly the database partner we were seeking.”
John McCormick, Chief Operating Officer for InterSystems, said:
“Working with Dovetail opens the door for InterSystems into the financial servicessector, an area of considerable opportunity for us. Our expertise in complexhigh-volume transaction processing applications makes Cache a natural choicefor financial applications.”
The Dovetail Payments System, incorporating Caché, will be on display at Booth B37 at Sibos in San Francisco 11-15 September.
About Dovetail Systems Inc.
Dovetail provides advanced payments processing applications and intelligent messaging solutions to the global financial services community. Through the use of the latest Application Server techniques, Dovetail’s unique technology dramatically improves the speed, reliability and security of the electronic transfer of funds between banks and other institutions. Dovetail continues a proud, three-decade history of delivering mission-critical payments and messaging solutions based upon the Intelligent Transaction Processing technology developed by the founding partners. These solutions include large-scale message switches and gateways, as well as funds transfer, cash management, and foreign exchange trading and netting systems. For more information, please visit: www.dovetailsys.com
Headquartered in Cambridge, Mass., InterSystems Corporation (www.intersystems.com) is the leading provider of high-performance database systems for Web applications, with more than three million users worldwide. InterSystems’ flagship product, CACHÉ, is a post-relational database with a multidimensional data and application server offering ultra-fast and massively scalable objects and SQL.
Trademark Notes: Caché is a trademark of InterSystems Corporation. Other trademarks belong to their respective owners.
Dovetail Systems Contact:
Kevin M. Scully
Dovetail Systems Inc
Tel: 01 212 239 8517
The Stephenson Group
Tel: +44 (0) 20 7665 1868