Tag Archives: Big Data

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Automation in Banking

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Banking and Automation- the two terms are synonymous to each other in the same way bread is to butter – always clubbed together. We live in a digital age and hence, no institution of the global economy can be immune from automation and the advent of digital means of operations. In fact, banks and financial…

Overview Of SAR (Suspicious Activity Reporting)

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Suspicious Activity Reporting (SAR) forms the cornerstone of the Bank Secrecy Act (BSA) and provides critical financial information to combat terrorist financing, money laundering, and other financial crimes. To comply with this requirement, it is essential for financial institutions to have in place sophisticated monitoring and reporting processes capable of identifying and monitoring transactions and…

Why shift from ETL to ELT?

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The process of data warehousing is undergoing rapid transformation, giving rise to various new terminologies, especially due to the shift from the traditional ETL to the new ELT. For someone new to the process, these additional terminologies and abbreviations might seem overwhelming, some may even ask, “Why does it matter if the L comes before…

History of Big Data

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What is Big Data? In essence, Big Data is a term for data sets that are so large or complex that traditional data processing applications are inadequate. It usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage and process data within a tolerable elapsed time[1]. The…

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…

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…