October 5, 2021
Snowdrop’s MRS solution for FinTech processes over 6,000 transactions per second
London, United Kingdom – 5th October 2021
Snowdrop Solutions’ flagship MRS product surpassed a technical challenge last month by automatically scaling to process over 6,000 transactions per second. This marks an important milestone for the company which has been able to enrich a huge volume of banking transactions during a sustained one hour period at very high levels of accuracy.
MRS, Snowdrop’s Merchant Reconciliation System, correctly identifies and locates merchants from messy bank transaction data. Built as an easy to use Application Programming Interface or API, MRS enables banks to create transparent, trusting experiences by clearly and accurately showing consumers the merchant name, logo and location where their banking transaction took place.
Running on Google Maps and Cloud Platform technologies, Snowdrop’s MRS solution currently manages several hundreds of millions of banking transactions for leading digital and traditional banks across the United Kingdom, Europe and Southeast Asia.
“Thanks to our in-house software development and location expertise, backed up with the underlying performance of Google, Snowdrop is able to provide industry leading accuracy at scale,” said Andy Jones, Head of Product Development at Snowdrop Solutions.
“Our teams run MRS on Google’s BigQuery, Places, and other key Machine Learning technologies,” Jones added. “And MRS, like our other services, are all hosted in a super secure infrastructure close to our customers at data centers around the world.”
Starting this month Snowdrop and Google teams are holding joint sessions with a few customers to share roadmaps for new services for 2022. “Snowdrop’s expertise with Google’s data management and analytics tools, combined with the billions of API queries we manage each month, enables us to turn vast amounts of data into deep insights and analytic reports for our customers,” said Jones.
In addition to working in Financial Services, Snowdrop has also delivered a number of location-based solutions such as Journey Planners, City Guides and Route Maps for some of the biggest names in the travel, hospitality and transportation sectors.
To learn more about Snowdrop’s location expertise with Maps and Cloud, please fill the contact form below and one of our colleagues will get in touch.