A new database technology transforming the fintech industry

As a software architect or developer in the financial industry, you're always on the lookout for new technology that can improve how your organization handles data. And every five or so years, there are new developments in database technology—consider the impact and benefits of relational databases, and hierarchical, graph, and document models.

At Event Store, we recently analyzed our top fintech clients overwhelmed by the minefield of database options. Today, practically every financial business uses traditional Relational database technology like Oracle and Microsoft SQL Server or Document databases like MongoDB. But despite their widespread use, traditional operational databases still fail to deliver the level of performance and functionality that financial companies require to create new applications.

Financial companies are facing downstream complexity, losing data, and not storing the business context. To make up for critical historical data not being stored, they have been pushing data into complex extract, transform, and load (ETL) pipelines, data lakes, and warehouses, where the data loses value over time.

However, microservices, data analytics, artificial intelligence (AI), data mesh, machine learning (ML), and blockchain are market forces creating demand for more proactive database solutions. The financial services industry is undergoing enormous technological and regulatory change, with heightened pressure from watchdogs and consumers alike—and it is ripe for its next disruption.

That's where Event Store comes in. Our new database technology is a confluence of two macro trends: the evolution of operational database technology and the rising adoption event-driven architecture (EDA). It's designed to help companies store data at its most fundamental level, stream it in real-time (and replay from any point in time), and transform it into any shape needed by downstream data technologies. 

EventStoreDB evolved from the Event Sourcing community and helps developers to analyze and address the impact of data changes on historical data, not just on the current state data like traditional databases. Enterprises can respond with speed and agility when business requirements change because each state transition allows businesses to trace events that occur and why—the gold standard for audit and compliance. 

What is event sourcing?

If you are responsible for the technology and integration roadmap for a financial company or startup, our whitepaper can help you learn about this new category of database and how it's disrupting the fintech industry. It covers topics such as: 

• How EventStoreDB differs from existing operational databases used in financial services
• The solutions to the finance industry’s pain points 
• How to get started and successfully write an application with EventStoreDB