Menu
Is this a good decision to use NoSQL database for a banking system rather than RDBMS?
If yes, What are the recommended NoSQL databases for a banking system?
589
Banking database exampleNon-relational (NoSQL) database technology comes into the market at this point. NoSQL is better than traditional relational databases (SQL) for tasks that need fast access to data from a variety of sources and systems that can adapt to changing market conditions.
MongoDB's document-based database system “is a really great fit” for banking, Coleman said. A SQL database may capture a series of transactions as a set of rows, one per transaction.
Most databases in NoSQL do not perform ACID transactions. Modern applications requiring these properties in their final transactions cannot find a good use of NoSQL. It does not use structured query language and are not preferred for structured data.
A distributed database management system give each bank branch his own copy of the latest customer data.
Before answering this question I would like to give an example: GT.M is a NoSQL Database that provide extreme transaction. which is used in the world's largest core banking system, FIS Core Banking system (ranked #1 by inntron)
So theoretically it is feasible to use NoSQL for core banking systems provided that your NoSQL engine supports transactions.
Source: http://www.slideshare.net/fachrybafadal/nosql-technology
184
If you love us? You can donate to us via Paypal or buy me a coffee so we can maintain and grow! Thank you!
Donate Us With
