First Open, Post-Relational Database Commercially Available for Credit Unions
March 30, 2000 – USERS Incorporated (www.users.com), a unit of Fiserv, Inc. (NASDAQ:FISV), announced it has signed a total of 50 credit unions to migrate to the Caché post-relational database from InterSystems Corporation (www.intersystems.com). Of those, 30 are now live with Caché and experiencing the many benefits that this open database affords credit unions.
“USERS’ introduction of Caché to the credit union industry represents a major milestone,” says Joe Barry, Vice President of Marketing. “The ability for credit unions to choose an open database that is affordable, SQL compliant, optimized for on-line transaction processing, and uses object programming tools offers obvious advantages and opportunities.”
Caché is a post-relational database that has been widely praised by industry sources – such as The Gartner Group, International Data Corporation, and The Aberdeen Group – for its efficiency in handling large volumes of transactions. Its tremendous scalability and suitability for e-business applications recently made Caché the database of choice to power the back office systems of Ameritrade, the online brokerage firm. In selecting Caché, Ameritrade executives cited its ability to facilitate rapid system development, support fast growth, and provide the infrastructure needed for e-commerce applications.
Caché offers similar advantages for credit unions, according to Barry, who cites the following:
- Unlike most databases used in the credit union industry today, Caché is an open, non-proprietary database that gives credit unions much greater flexibility in implementing applications of their choosing, as well as portability to a number of operating system environments and hardware platforms.
- Caché is ideally suited to transaction-intensive industries – such as the financial services industry – which demand fast, efficient processing of high transaction volumes.
- Caché competes with popular relational databases, such as Oracle and Sybase, but at significantly more competitive price points.
- Caché supports the use of Web-based technologies and development tools, enabling both USERS and its clients to develop Web-enabled applications more quickly and effectively.
Among the many USERS clients now live with Caché, 1st Advantage Credit Union (Newport News, VA, $240 million) was the second to migrate and has seen tremendous benefits as a result.
“Caché includes a number of development tools that our staff can use to work with applications outside the DataSafe system and to support our e-commerce initiatives,” says Carrie Mansueti, Manager of Information Systems. “And as more members use our Internet banking and other Web-based services, we know that Caché will be able to handle the significant increase we anticipate in our transaction volume.”
Mansueti also cites system performance as a key benefit, noting that Caché cut back-office processing time by 40% initially, with the credit union sustaining about 20% reductions even as its database has grown dramatically in size. The performance improvements will enable the credit union to extend the life of its Alpha AXP hardware by at least a full year or more, she says.
Similarly, Bayer Employees Federal Credit Union (New Martinsville, WV, $122 million) has been able to extend the useful life of its hardware platform as a result of the significant system performance improvements offered by Caché.
“Because Caché is SQL-compliant, it will also place us in prime position to implement third-party specialty applications that conform to the ODBC standard,” adds Grace Blake, Information Systems Manager. “It’s a platform that makes sense for our future.”
USERS Incorporated (Valley Forge, PA) provides a wide range of systems and services to more than 400 credit unions throughout the continental United States and Hawaii. USERS is a unit of Fiserv, Inc. (NASDAQ:FISV), an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 10,000 financial services providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin.
Vice President, Marketing
1-800-523-7282, ext. 1189