Tag Archives: Data Management

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Why is Regulatory Reporting Tough?

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‘Regulatory reporting’ is the submission of raw or summary data needed by regulators to evaluate a bank’s operations and its overall health, thereby determining the status of compliance with applicable regulatory provisions. Governments across the world give prime importance to keep their banking systems updated. This has proved to be an important task, more so after the…

Scope of Data Integration

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Data[1] integration involves combining data residing in different sources and providing users with a unified view of data. This process becomes significant in a variety of situations, which include both commercial (when two similar companies need to merge their databases) and scientific (combining research results from different bioinformatics repositories) domains. Data integration has increased  as the volume and the need to…

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…

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…