Which are the commonly used Hadoop Tools in Banking?
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 Recovery Rate, to personalize banking/insurance, data management and Compliance.
Cloudera Enterprise helps organizations by providing solutions in data processing, analytics, Hadoop software support and services. Their main focus is to manage financial data and cut down on losses by offering enterprises one place solutions to store, access, process, secure, and analyze al their data. Their solutions cover Regulatory Compliance Issues, Fraud Prevention and Anti-money Laundering, Risk Management, Mortgage Portfolio Valuations and a 360-degree customer analysis view.
The company provides an open source NoSQL database with JSON-like features to save and analyze data better. The database solutions is used in financial services to cover Regulatory Reporting, Risk Analytics, Data Management and Storage, Trade Repository and Analytics of Customer data to give a single view of the various opportunities to build better customer service.
MarkLogic’s Enterprise NewSQL database platform can be used to combine multi-structured and unstructured data, allowing financial organizations to store and manage data from disparate sources, make information accessible in real-time for multiple audiences, and ensure compliance with regulatory mandates. It also addressed regulatory compliance issues, analytics to sport irregularities and simplifying middle and back office operations.
Specializing in Data Analysis, Palantir’s solutions cover Anti-Fraud, Capital Markets, Cyber Security, Insurance Analytics, and Legal Intelligence, also providing Custom Solutions. Palantir Gotham is used to integrate, manage, secure and analyze data while Palantir Metropolis is used to enrich and model quantitative data.
Datameer’s schema free Big Data analytics application enables businesses to discover insights in data via wizard-based data integration, iterative point-and-click analytics, and drag-and-drop visualizations, regardless of the data type, size, or source. Optimized for big data analytical workloads, Datameer uses Hadoop for both storage and compute and can integrate with existing DW or BI solutions. It covers customer segmentation and fraud detection and is used for compliance and regulation.
Splunk is an IT Analytics and Monitoring Software that collects and analyzes any type of machine-generated big data, from legacy core banking systems to state-of-the-art mobile applications so that financial institutions can gain visibility across complex, global operations. It is being used by FINRA, ING< GE Capital and Credit Suisse to name a few, it provides end-to-end transactional visibility, cross-channel customer insights, security intelligence and regulatory compliance report generation and solutions.
Teradata (Cross Infrastructure)
The enterprise develops and sells a relational database management system (RDBMS) that provides a single-source view into financial and risk management in areas like Reporting, Audit Fees and ROI. Its list of Financial Services like Data Driven Marketing and Multi-Channel Customer Engagement, Path and Pattern Discovery, Finance, Risk and Compliance, Enterprise Risk Management, Regulatory Support, Performance Management, Analytics, Data Repository, etc.
Informatica provides enterprise data integration and management software powering analytics for big data and cloud. It covers Risk and Compliance, Integration, Cloud, Data Management and Security, Legacy Application and Modernization, Data Governance. They provide solutions in data management, governance and analytics to banking and financial institutions.
IBM Big Data
IBM has a whole portfolio of products for big data management, covering spheres from cross platform analytics to Hadoop related infrastructure. IBM Infosphere solution covers data integration, data warehousing, master data management, big data and information governance. IBM Watson offers search, navigation and discovery of data sources. Their industry solutions are used to create customer focused enterprise using analytics, optimize enterprise risk management and manage costs.
Tableau provides interactive data visualization tools focused on business intelligence and analytics. They are used in banks to track the value of savings and investments, analyze data, monitor risks across various options with interactive dashboards and dynamically produce reports as required.
To know more about the various Hadoop and Big Data vendors, see our Big Data Vendor Selection Page, which has detailed information on the subject gathered by our team of experts.
*Cloudera and Hotronworks are Hadoop distribution packages with their own toolsets added