Tag Archives: banking on big data

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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…

Regulatory Tsunami: Financial Pain Grips Banks

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As the regulatory juggernaut rolls on, the fines being currently meted out are just the tip of the iceberg. Analysts are predicting that more penalties are in store for foreign exchange manipulation and Libor-rigging; this would take the total fines levied on the banking industry above $300bn since 2010. As major institutional investors reevaluate their…

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…