CASE STUDY payments , creating massive potential for financial services organizations .
The Central Bank of Brazil ( BCB ), a federal body linked to the Ministry of the Economy , is responsible for controlling inflation , issuing paper currency and regulating the country ’ s financial sector . Since 2002 , it has led a program to modernize the Brazilian Payments System ( SPB ), which manages the transfer of financial resources between banks for payments between individuals , businesses and the government .
BCB began work on Pix , a new instant payment network that uses ID keys or QR codes that are read by mobile devices . Using Pix , individuals or companies can make or receive payments in seconds , without needing debit or credit cards . The service is free for individual users .
Additionally , this solution would help increase competition in Brazil ’ s concentrated financial services market , where the top five lenders hold close to 80 % of assets . based on Apache Kafka , with Red Hat AMQ winning this selection process . AMQ streams , a component of Red Hat AMQ , offers distributed data streaming with high throughput and low latency for running , scaling and managing applications in a cloud-native Kubernetes environment .
Red Hat AMQ is part of Red Hat Integration , a group of products and components that support service and data transformation through improved connectivity .
To create this innovative , modern solution , BCB needed an IT foundation that would support
THIS NEW TECHNOLOGY WILL ALLOW US TO COLLABORATE IN A WAY WE COULD NOT BEFORE , TO BUILD A NEW , INSTANT FINANCIAL EXPERIENCE .
uninterrupted 24x7 financial services operation – without requiring extensive management effort .
“ We wanted to create a solution that would offer flexible , secure financial transfers , improving our customer experience while reducing transaction costs and promoting financial diversity ,” said Vicente Fernandes , Chief of Division of Server Architecture , Storage and Basic Software , Central Bank of Brazil . “ But to build Pix , we needed a simpler , more scalable IT infrastructure .”
Creating a high-performance service infrastructure with Red Hat
“ During the proofs of concept , Red Hat met all of our requirements while also offering the expert support and partnership that we needed to make sure we start off right with new technology ,” said Fernandes .
In addition to AMQ streams , BCB deployed Red Hat
Ansible Automation Platform to create and implement reusable , easy-to-use infrastructure automation capabilities through its network . The bank uses Ansible Automation Platform to integrate Pix with third-party partners ’ automation solutions . Red Hat OpenShift , an enterprise Kubernetes platform , hosts the bank ’ s access and business logic applications .
BCB worked closely with Red Hat Consulting to become familiar with and successfully deploy its new service infrastructure .
“ Red Hat was an active , essential partner in this project ,” said Fernandes . “ They allocated a large project team of experienced technicians that helped us become familiar with the technology and best practices .”
Pix successfully launched in November 2020 , with more than 72 million registrations open to consumer and business users and an anticipated capacity of up to 200 million users .
Reduced transaction processing time from hours to seconds
BCB solicited vendor bids for technology to run Pix using a distributed , highly scalable architecture
With its new high-performance technology architecture , BCB has dramatically reduced
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