IBM’s newest chip for mainframes boasts one of the highest speed ratings to date and will go into Big Blue’s fastest mainframe computers.

IBM, no stranger to cutting-edge chip designs, will use the new 5.2GHz z196 processor in mainframes targeted at businesses managing huge workloads, such as large banks and retailers.

Why the need for more than 5GHz of speed, one of the highest frequencies of any commercial processor to date? IBM cites a study by Berg Insight, showing that the number of active users of mobile banking and related financial services worldwide is forecast to increase from 55 million in 2009 to 894 million in 2015. IBM’s customers need all the horsepower they can get to handle these staggering data processing loads.

Big Blue’s zEnterprise mainframe technology is the result of an investment of more than $1.5 billion in research and development for the zEnterprise line, as well as more than three years of collaboration with some of IBM’s top clients around the world, the company said.

The processor itself packs in four cores, plus a respectable helping of DRAM–what IBM calls eDRAM–inside the processor module. Getting DRAM inside a processor module is quite a trick, as DRAM, or dynamic random access memory, is typically on a separate module inside a computer (just think of the RAM upgrade boards that plug into a PC’s motherboard). The patented IBM eDRAM technology allows it to place dense DRAM caches inside its processors, which boosts performance.

Intel, by comparison, has its own very fast mainframe-class server processors, such as the Xeon X7560 processor, which integrates eight cores, in a 2.26GHz processor. Many consumer Intel chips also boast a new technology called Turbo Boost, which dynamically “overclocks” (speeds up) the processor to very high speeds, when needed by an application. (Intel also offers its 4-core Itanium 9300 “Tukwila” processor for high-end servers with 30MB of on-chip cache.)