Industry Solutions

Financial Services

About

The Competitive Advantage of Real-time Analytics and Machine Learning for Financial Organizations

Leading banks and capital markets firms require extreme performance as they start leveraging real-time analytics and machine learning for many strategic initiatives such as risk management, fraud detection, compliance, and consumer metrics.

Simply having data is no longer enough, and traditional ways of thinking about analytics no longer apply. It has become critical to be able to gain insights from and act on extremely large datasets from traditional and non-traditional sources in real time, while – at the same time – to be able to reference older, stored data.

GigaSpaces InsightEdge analyzes time-sensitive data in the moment, enriched with historical data,  to help address these initiatives while driving business impact through efficient operations and enhanced customer experience.

Benefits

DECREASE THE RISK OF TRADE RECONCILIATION

Deliberate and non-deliberate discrepancies create risks for the business. As the volume of data continues to grow, a simplified big data network design will help the organization scale and ensure availability.

Guaranteed data integrity, fast data processing, and real-time advanced analytics power the insight driven organization to handle the speed and scalability required for the trade reconciliation process with reliability and accountability.

This way, financial services organizations can reduce risk exposure and meet regulatory requirements while lowering operational costs.

REAL-TIME RISK DATA STORE AND OPERATIONAL INTELLIGENCE

The financial services industry is undergoing a fundamental transformation from a product-centric to a customer-centric model, and in leveraging insight driven innovations, built on scalable, low-latency in-memory computing platforms.

Yet, reducing the institution’s risk exposure and meeting regulatory requirements while lowering operational costs is still a key challenge. By aggregating and ingesting billions of messages in real-time into a live risk result store, organizations can power hundreds of applications at the speed of real time while maintaining transactional integrity.

GigaSpaces InsightEdge unifies real-time analytics and AI with transactional processing to help firms evaluate the risk in their portfolio. Leveraging the combination of geo-spatial analysis and Monte Carlo simulations running directly against transactional data, and machine learning, financial services firms can run intra-day risk analysis and power their insight-driven transformation.

DETECT FRAUD AND PREVENT MONEY LAUNDERING

Fraud detection is a billion-dollar challenge for the financial services industry, affecting consumers and banks alike.

Deploying and running real-time analytics and machine learning on data as it is born, can help financial organizations detect and prevent money laundering and other fraudulent activities while eliminating the need to provision new data stores for fraud detection workflows.

Preventing fraud for payments, trading, and deposits, more accurately and quickly, requires you to know where the customer is located and analysis of the customer’s historical data before the transaction is completed. Event-driven analytics trigger on-the-spot workflows to protect against fraud as it’s happening.

ENHANCE CUSTOMER EXPERIENCE (CUSTOMER-360)

Financial institutions can differentiate in a highly competitive market by providing a great customer experience, especially as customers become more knowledgeable and demanding.

Knowing and understanding your customers’ sentiments, intentions and past activities are facilitated by ingesting real-time customer interaction data at high throughput and analyzing the data in the moment as it’s born. Enriching these insights with historical data, combined with sub-second response times, powers personalized customer services including opening new accounts, loan requests or instant payment execution – making your customers happy. In addition, deep learning and predictive analytics help identify chances of churn and manage up selling effectively.

Case Studies

Learn how InsightEdge is being used by Financial and Insurance Services to become insight driven.

 

Watch Video
Fast Data Access to Global eTrading Data for Risk Management and Regulation
Fraud and Money Laundering Detection in Real-Time
Instant Payments for Real-Time Transactions
Performance Improvement for Avanza Online Banking
Post-Trade Processing
Real-time Global Data Replication & Business Continuity Supporting Hundreds of Applications