Modern Database Strategies: How Financial Organizations Overcome Business Hurdles by Employing Open Source

Gatepoint Research conducted a survey of 100 Banking and Financial Services and Insurance (BFSI) executives regarding their database strategies and how they are addressing their biggest challenges with their legacy, proprietary database management systems (DBMS) as they execute digital transformation initiatives.

These hurdles included:

• Cost
• Performance issues
• Security
• Delivering enterprise-grade solutions at scale

For many in BFSI, open source databases such as Postgres have provided a solution to the limitations of legacy providers—a dynamic alternative to their previous DBMS woes. In fact, many major financial institutions have opted to ditch databases like Oracle and make the Postgres move.

In this white paper, we’ll delve into exactly why that is, how Postgres is ideally suited to empower BFSI enterprises and what specific business benefits open source can provide.