Levler, a Swedish Digital-Native Financial Services Firm, Selects GigaSpaces to Power its Trading Platform
NEW YORK, Sept. 6, 2023 /PRNewswire/ -- New customer win for GigaSpaces, the leading provider of an operational data hub platform: The company announced that Levler, a purely-digital savings platform in Sweden, has deployed GigaSpaces as its core backend technology for both customer services and internal management systems.
Owned by financial firm Söderberg & Partners, Levler was launched in the Spring of '22 as a mutual funds trading platform. Last June, it expanded its services to include a wide scope of equity trading, alongside a totally redesigned user interface. According to the company, Levler's purely digital platform was designed from the bottom up to remove traditional entry barriers to the savings universe, making it the ideal platform for customers looking to make their first steps in the trading market.
In explaining why Levler decided to choose GigaSpaces over other vendors or home-grown solutions, the company's Co-Founder & COO Donald Harding, said: "We were familiar with GigaSpaces and we knew they had a proven track record within in-memory technology to run trading in other financial services providers in the region. So, for us going with GigaSpaces was a natural choice. We were very clear on our expectations from the vendor powering our tech stack: We looked for a scalable, event-driven platform that we could trust during trading peaks, facing a surge of real-time updates – such as stock prices or large volumes of deals coming in. Our customers expect our platform to always show fresh data and be fully responsive to execute their orders – and these are exactly our expectations from GigaSpaces. So far, we're happy with what we're seeing".
Levler is running its services on Azure cloud, and while this type of deployment can pose various technological and operational challenges, the company has been able to run its services smoothly, with GigaSpaces deploying its platform to the cloud.
"We have had a strong presence in the Nordics, as well as with some of the largest financial services firms in the world for quite a few years", says Adi Paz, GigaSpaces CEO. "What makes this customer win special for us is that it's our first purely digital, cloud-native financial services customer. As such, Levler had very demanding technical expectations from the performance and resilience of our solution, ensuring 24x7 digital services with zero glitches – and I'm proud to see that we're living up to these expectations".
The deployment of GigaSpaces technology within Levler was made possible by Lemontree, a Stockholm-based systems integration with operations spanning across the Nordics and the Baltics. Lemontree played a pivotal role in both the implementation of the solution, as well as in its seamless delivery to Levler.
SOURCE GigaSpaces
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