Category Archives: Big Data

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Blockchain ’s Disruptive Technology

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Ownership of Asset and transfers made between businesses can be costly, time consuming and inefficient with a high vulnerability of manipulation. There are high chances of dissimilarities with the ledgers of the parties. But there is one way to resolve these issues: Blockchain. What is Blockchain? Blockchain can be defined as a public ledger, openly…

How Banks Utilize Big Data Technology

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With the banking regulatory landscape undergoing a transformation, banks have realized the need for deploying Big Data technology to efficiently manage risks that come with growth of data. Following are some cases that explain how Big Data technology has been put into practice to meet critical banking requirements: Fraud Detection and Security Address anomalies in…

Which are the commonly used Hadoop Tools in Banking?

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Hadoop Infrastructure Hortonworks The company provides Hadoop Implementation and Solutions to various industries, also including financial institutions. Their main focus is to minimize risks by using analytics and data processing to maximize opportunity. Hadoop solutions by Hortonworks are used in banks, insurance companies and security firms to Detect Fraud, Model and Manage Risk, Improve Debt…

Hadoop in Banking: The Game Changer

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What is Hadoop? Apache Hadoop is an open source software framework written in Java for distributed storage and processing of very large datasets on multiple clusters. Developed by Doug Cutting and Mike Cafarella in 2005, the core of Apache Hadoop consists of ‘Hadoop Distributed File system for storage and MapReduce for processing data. The basic…

The Cloud for Productivity

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In today’s world remote working is extremely essential because of the level of convenience it can get for any kind of business. Talking about convenience, businesses want security, online storage and access, in-house bookkeeping and a lot more attributes that Cloud Computing has to offer.   What is Cloud Computing? Cloud Computing is a model…

AML: Dissuade Money Laundering

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Money Laundering Vs Terrorist Financing Money Laundering is a vicious method of making illegitimate money look legitimate by following the classic PLI (Placement-Layering-Integration) process. Criminals use this process to hide the original ownership and make the proceeds appear to have originated from a legitimate source. Terrorist Financing is even more deceptive due to the possibility…

Discover Opportunities of Big Data Analytics

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Big Data Analytics is the hammer which chisels the marble chunks of big data revealing risk patterns, fraud alerts, operational trends, customer preferences and other nuggets of information. This in turn leads to more timely identification of risks, efficient marketing, increased profits and improved customer service. What is the Goal of Big Data Analytics?   Big Data’s…