KCB advances credit analysis time by 2X with Oracle Exadata
Korea Credit Bureau consolidates core banking transactional and analytical workloads on Oracle Exadata for improved performance and reliability.
“As almost all the financial companies in Korea rely on KCB’s credit evaluation for their financial transactions, our workload is highly mission-critical. After implementing the Oracle Exadata system, our client services saw performance improvements of 300% in data processing and 200% in data warehousing, while achieving zero downtime and zero data loss. With this advanced IT infrastructure, KCB has strengthened the Korean financial industry’s competitiveness and enabled an advanced credit society.”
Business challenges
Established in 2005 with a joint investment from 18 major Korean financial services companies, Korea Credit Bureau (KCB) was built to prevent the recurrence of a financial economic crisis by forming consensus on sharing credit data, and further strengthening the industry. Managing credit risk more effectively requires better evaluation of an individual consumer’s credit worthiness. At the same time, credit bureaus strive for growth by advancing credit so that more consumers enjoy convenient financial services in their daily lives, such as loans, credit cards, or even telecom services.
Almost all the financial companies in Korea rely on a KCB credit evaluation for their financial transactions. “The IT solutions that support our highly critical workloads need to have both powerful performance and high stability in order to process large-scale transactions quickly and accurately,” says Jae Pil Jung, general manager in the IT operation department.
As its clients’ service-level requirements increased, along with an exponential rise in data volume and the emergence of fintech alternatives, the bureau needed a more advanced IT infrastructure to build innovative services.
The bureau’s data warehousing appliances were reaching end of life, while main database servers and storage systems needed upgrades. The financial company wanted to find other options.
Our accumulated experience in credit evaluation and scalable IT infrastructure based on Exadata is enabling KCB to expand into the global market. We expect to play a pivotal role in the pioneering and development of new industries such as MyData and big data.
Why KCB chose Oracle
KCB chose to consolidate all transaction processing and data warehouse workloads on Oracle Exadata to perform the crucial work of evaluating credit ratings. The bureau sought the increased performance, security, and availability that Exadata would provide.
Results
Oracle Exadata Database Machine X8M implements daily updates of financial data for all of KCB’s clients, evaluating credit ratings based on the analysis. Exadata X8M incorporates persistent memory and RDMA over Converged Ethernet to increase transaction processing and lower I/O latency. As a result, “KCB’s client services gained a 300% performance improvement in data processing and 200% faster response time for credit analysis. Additionally, Maximum Availability Architecture achieved zero downtime and zero data loss, as expected, to lower risk,” says Hwa Gyun Oh, database artist in the IT operation department.
Exadata’s integrated, full-stack solution architecture allows Oracle to rapidly, accurately, and clearly resolve technical challenges.