Tag Archives: Big Data in Banking

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The Rise and Scope of FinTech

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There are undoubtedly a lot of challenges banks are currently facing. The dynamic regulatory environment and the rise of technology in everyday banking activities is changing the way we bank, and catering to this fast evolving dynamics is tough for most banks. This is where FinTech is making a difference. According to the infographics created…

Regulatory Reporting for Financial Institutions: The Technology Challenge

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While we have previously analyzed the impact of regulations on banks due to various key issues (see related articles at the end of the blog), implementation of new technology and the need to update IT infrastructure has been a significant issue for banks and financial institutions. Regulators demand information on various activities (liquidity management, asset…

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…

A Review of BCBS 239: Helping banks stay compliant

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The Basel Committee of Banking Supervision’s (BCBS) guiding principles, titled BCBS 239: Principles for Effective Risk Data Aggregation and Risk Reporting came into being in the aftermath of the 2008 Financial Crisis. The global financial crisis brought to the fore how banks’ information technology (IT) and data architectures were inadequate to deal with the management…

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…