TIBCO Software took home the Big Data Award at the 12th Annual Ventana Research Leadership Awards. According to the organiser of the competition, Fannie Mae’s application of TIBCO integrated solutions to enhance its enterprise data infrastructure.
Fannie Mae provides affordable financing for mortgage lenders. When instructed by the federal government to react to the housing crisis at a faster pace than anticipated, it was quickly discovered that the company’s legacy architecture would not allow Fannie Mae to respond quickly enough to market change.
In 2008, Fannie Mae implemented TIBCO BusinessWorks for integration and TIBCO Messaging to enable event-driven operations. The new enterprise data infrastructure served as a single source of truth, incorporating over 90 upstream systems that feed more than 250 downstream systems.
Fannie Mae clients now have access to real-time information, such as when they made their mortgage payment. A mortgage payment which used to take up to five day to process, has become instantaneous.
“Today, the infrastructures of the companies we work with are able to process queries and messaging instantly, with more real to near real-time driven orchestration, a huge leap from the legacy schedule-driven processes they had previously applied. It is the best practice in how big data, when done right, can make a significant impact on a business,” states Fred Studer, chief marketing officer, TIBCO.
Watch the video to know more about the Fannie Mae story.
The Ventana Research Digital Leadership Awards span nine categories, including: Analytics, Big Data, Customer Experience, Digital Technology, Human Capital Management, Marketing, Office of Finance, Operations and Supply Chain, and Sales, with an overall award.