Everspin Accelerates FinTech with nvNITRO Collaboration

Fintech Investing

Everspin Technologies (NASDAQ:MRAM) has announced the first application white paper release for the nvNITRO solution, which is jointly delivered with SMART Modular Technologies, a subsidiary of SMART Global Holdings (NASDAQ:SGH). As quoted in the press release: Everspin and SMART have collaboratively worked on the development of the nvNITRO NVMe storage accelerator and are focusing on …

Everspin and SMART have collaboratively worked on the development of the nvNITRO NVMe storage accelerator and are focusing on jointly developing several vertical markets. The initial focus will be on the financial technology (FinTech) sector, where nvNITRO can increase data throughput and reduce critical storage bottlenecks, unlocking operational value while also satisfying data persistence requirements.
A 90% reduction in latency for financial transactions. Financial market compliance rules often require synchronous logging, which adds latency and creates transaction processing bottlenecks. By dramatically reducing this latency with nvNITRO, companies can log transactions faster, increasing their overall transaction volume and ultimately revenue. Because STT-MRAM is a persistent memory, nvNITRO helps ensure that all data logs are protected and companies remain compliant. Everspin has detailed these advantages of nvNITRO in a new paper, available for download free of charge at https://www.everspin.com/files/accelerating-fintech-applications-lossless-and-ultra-low-latency-synchronous-logging-using.
“While financial customers have a need for the fastest transaction processing, they can’t ignore regulatory demands. This required logging reduces transaction throughput and directly impacts revenue. nvNITRO’s ultra-low latency, at 6-7μs, places Everspin far ahead of the competition in driving value for FinTech customers,” stated Pat Patla, Senior Vice President of Marketing at Everspin.
“The strategic shift in our engagement with SMART Modular Technologies has brought about the focus and collaboration needed to deliver such market changing value,” said Kevin Conley, Everspin President and CEO. “Everspin’s proficiency in developing the latest MRAM technology joined with SMART Modular’s product and sales expertise creates a potent combination.”

Click here to read the full press release.