Tag Archives: Technology

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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…

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…

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…

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…