For decades, relational databases was the de-facto choice for financial service companies, until the 2000s where systems started to face challenges with scalability and availability as the amount of data being processed and consumed shaped how companies conducted their business.
NoSQL databases emerged as a reaction to these challenges and while they certainly helped address the scalability, availability and flexibility shortcomings of RDMBS, NoSQL technology forced users to compromise on ACID, SQL and data integrity, which came with significant costs to financial services companies.
NewSQL came about as a solution to address this issue by offering the best of both worlds. NewSQL databases provide the same scalability, availability and performance of NoSQL, while maintaining the benefits of relational databases, like data integrity and SQL. This leaves NewSQL technology as the perfect choice for many use cases in financial services.
To learn more about how financial services should evaluate databases as they look towards the future, check out our pre-recorded webinar “The Changing Landscape of Databases in Financial Services” or read our whitepaper NoSQL vs NewSQL.