Napatech Secures FinTech Design Win
COPENHAGEN, Denmark – Jan. 13, 2021 – Napatech™ (OSLO: NAPA.OL), the leading provider of programmable SmartNICs, today announced that a tier-1 global financial services trading firm has selected Napatech 40 and 100 Gbps SmartNICs for their trading network.
The solution enables the customer to reliably and accurately perform market data analytics to improve trading behavior that maximizes revenue and de-risk transactions. Additional capabilities ensure regulatory compliance and strengthen the security of the data in flight across the trading network, at a time when the networks of banking, financial services and trading companies are under increased stress.
The global financial services customer specializes in proprietary, high-frequency and algorithmic trading. With nearly 1,000 employees they operate globally with datacenters in major financial hubs in the United States, Europe and Asia.
Napatech anticipates the lifetime value of the project to be $2-$3 million. This notable customer win contributes to a successful year for Napatech solutions in the FinTech market, boasting more than 25 OEM and end-user FinTech customers.
Manoj Sukumaran, senior analyst, data center compute, Omdia, said: “SmartNIC vendors catering to the telco and enterprise market have seen an uptick in programmable NIC demand. In particular, enterprise customers in the banking, financial services and trading industries deployed programmable adapters to handle the increased network traffic by offloading compliance, forensics and cybersecurity functions to these adapters. Vendors like Napatech have benefited from this increased demand in the financial services market for programmable NICs.”
Ray Smets, chief executive officer, Napatech, said: “We are pleased to continue to win new customers of this size in the rapidly growing market for programmable SmartNICs in FinTech. This win is a validation of our product strategy and is a great example of the type of applications that benefit from Napatech’s expanding SmartNIC software and hardware solutions.”
Napatech helps companies to reimagine their business by bringing hyperscale computing benefits to IT organizations of every size. We enhance open and standard virtualized servers to boost innovation and release valuable computing resources that improve services and increase revenue. Our programmable SmartNICs are based on a broad set of FPGA software for leading IT compute, network and security applications that are supported on a wide array of FPGA hardware designs. Additional information is available at: www.napatech.com.
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Chief Financial Officer, Napatech