IBM Mainframes: Still the Backbone of Today’s Global Commerce
It appears that the introduction of IBM's most powerful mainframe ever, the z14, had a significant effect in IBM's recently announced 3Q 2017 results. According to Ginni Rometty, IBM chairman, president and CEO, "There was enthusiastic adoption of IBM's new z14 mainframe, which delivers breakthrough security capabilities to our clients."
When you think about it, IBM mainframes are incredibly pervasive in the entire world's global commerce today. It has been referred to as the most powerful transaction processing system of the cloud era, according to Nanalyze (Nanalyze provides objective information about companies involved in disruptive technologies so that investors can make informed investment decisions.)
Nanalyze went on to say: "IBM mainframes are literally the backbone of today’s global commerce handling more than 30 billion transactions a day (more than the number of daily Google searches) including:
- 87 percent of all credit card transactions ($8 trillion a year)
- 29 billion ATM transactions ($5 billion a day)
- 4 billion passenger flights a year
- 68% of the world’s production workloads at just 6% of total IT costs
- Citi uses IBM mainframes to process 150,000 transactions a second.
The reason why the IBM mainframe remains entrenched in 92 of the top 100 banks in the world is because you just can’t compete with them on cost at the moment."