PingCAP Showcases Marquee Solution TiDB and Leads Industry Conversations on Open-Source Innovation at FinTech Festival India 2024

NewsVoir
New Delhi [India], March 15: TiDB, the leading and advanced open-source distributed SQL database developed by PingCAP, participated in the 3rd edition of FinTech Festival India (FFI) at Yashobhoomi (India International Convention & Expo Centre), New Delhi. As a leader in open-source technology and a modern distributed SQL database compatible with MySQL, TiDB fostered collaborative discussions and showcased its innovative solutions to demonstrate the power of open-source platforms in driving advancements in the FinTech space in India.
Aligned with India's vision for technological advancement and financial inclusion, PingCAP's participation at FFI underscored its commitment to helping FinTech companies focus on growing their business without worrying about complex data infrastructure management. With a focus on scalable, reliable, and agile data infrastructure, TiDB, developed by PingCAP, from 6 to 8 March, engaged with the Indian FinTech community and highlighted the need for the FinTech industry to embrace modern database solutions. With the development of technology, the core banking system has evolved - from a traditional centralized system to a distributed, service-oriented architecture (SOA). The FinTech industry needs a robust system to support their complicated transactions. With data complexity rising, the need of the hour is a distributed SQL database which is highly available, scalable, resilient, and secure. It also delved into TiDB's ability to solve the pain points seen with traditional database systems as well as enabling more agile development and faster go-to-market processes with a simplified architecture for data management.
TiDB emerged as a winner in the Remarkable Banking Software Infrastructure category at the FinTech Festival India (FFI) Awards 2024. This recognition is a testament to PingCAP's outstanding contributions and excellence in the development and implementation of highly scalable financial software infrastructure solutions.
Speaking at the keynote session, Bhanu Jamwal, Head of Presales and Solution Engineering, APAC, PingCAP, the company behind TiDB, said, "Data explosion is a key factor impacting the FinTech sector today, demanding instantaneous scalability and reliability for uninterrupted customer services. TiDB's distributed SQL database is leading the charge by revolutionising how FinTech players can seamlessly manage their data while scaling their services and operations. It also enables them to maintain a high availability and deliver prime performance even under the most demanding workloads, making it an ideal solution for FinTech's fast-paced and data-driven world. Not to forget, maintaining consistency in financial data is of paramount importance for FinTech companies, ensuring they can provide customers with the most up-to-date snapshots of their financial status. TiDB offers that assurity on data consistently at all times."
As part of the event, Sreedharma Vijayan, India Director of PingCAP, participated in a panel discussion on "Collaborative ecosystem propelling digital lending revolution" alongside industry experts and reflected on the bright future for open-source innovation in shaping tomorrow's FinTech landscape. "At PingCAP, we recognize the imperative for an agile and scalable infrastructure to support the burgeoning digital lending revolution. Our cloud-native architecture and Kubernetes compatibility empower FinTech institutions to seamlessly adapt to evolving market demands. By fostering a collaborative ecosystem, TiDB is at the forefront of propelling the digital lending revolution forward, ensuring accessibility, efficiency, and innovation for all stakeholders," he added.
PingCAP was founded in 2015 by three software engineers who wanted to build a new database system more scalable and reliable than MySQL.
The company's flagship product, TiDB, is the most advanced, open source, distributed SQL database for building modern applications that are relentlessly elastic, versatile, and reliable. PingCAP is backed by Sequoia Capital, GGV Capital, Access Technology Ventures, Coatue Management, and others to help realize its mission: empower developers everywhere to distribute their data with speed, agility, and scale.
For more information, please visit www.pingcap.com.
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