In a recent statement, Wanna Noparbhorn, the managing director of the National Interbank Transaction Management and Exchange (National ITMX), highlighted the positive impact of Oracle Exadata on PromptPay’s performance. The system’s speed and security were significantly improved following an upgrade in the first quarter of this year.
To address concerns regarding steep transaction charges, the Bank of Thailand introduced National ITMX in 2016. This initiative aimed to enhance interbank transactions by leveraging the convenience of PromptPay. Through their bank’s mobile application, individuals can effortlessly transfer money or make payments for goods and services by simply entering the recipient’s mobile phone number or ID card number. Presently, the National ITMX system includes participation from 26 banks and financial institutions.
The number of PromptPay transactions has surged by 11 times in the past few years, highlighting the need for an enhanced IT infrastructure that can support further growth securely and expeditiously. To address this requirement, the National ITMX embarked on a quest to find a globally accepted IT system capable of handling a substantial influx of transactions. After thorough evaluation, the Oracle Exadata emerged as the most fitting solution.
According to the speaker, the Oracle Exadata enables the platform to handle a significantly higher number of transactions per second, with an increase of 143%. This powerful system was designed specifically to address the demands of large-scale and mission-critical Oracle Database workloads. It is a pre-configured and pre-tested solution that seamlessly integrates hardware and software, all optimized for running Oracle databases. One of its key strengths lies in its utilization of solid-state drives (SSDs) and specialized hardware, resulting in exceptionally fast data processing speed. As a result, it excels in handling complex queries and transactions much more efficiently than traditional database systems. Additionally, the Oracle Exadata is also resource-efficient, utilizing 45% less virtual central processing unit resources, as mentioned by Wanna.
The National ITMX can enhance its transaction services with the assistance of the system’s machine learning capabilities, as mentioned by her. In the upcoming two to three years, the Oracle Exadata platform’s scalability will allow for seamless expansion to accommodate the newer version of PromptPay being developed by the National ITMX.