It’s just about official—blockchain has taken over the world. Or, to be more accurate, the idea of blockchain has taken over the world. In recent months, we’ve seen Long Island Iced Tea Corp. become Long Blockchain Corp. and Kodak revive itself with blockchain aspirations. These unexpected moves led to some head scratching, but also to […]
The Changing Landscape of Databases in Financial Services
For decades, relational databases was the de-facto choice for financial service companies, until the 2000s where systems started to face challenges with scalability and availability as the amount of data being processed and consumed shaped how companies conducted their business. NoSQL databases emerged as a reaction to these challenges and while they certainly helped address […]
What’s Missing from Your Fraud Detection Strategy?
Credit card fraud is ever-growing and ever-present. According to the 2016 LexisNexis True Cost of Fraud study, the total cost per dollar of fraud losses has reached $2.40. The total cost of fraud as a percentage of revenue has continued to rise as well, growing 11% from 2015 to 2016. Given status quo, this will [...]
Fast Data in Financial Services: Key Trends to Maintain a Competitive Edge
Financial services institutions are faced with a number of high-pressure demands, whether it be from regulators, investors, customers, and internal business users. These demands require that firms create, monitor, and provide access to vast amounts of data which must be immediately accessible, correct, and stored for various lengths of time. Data is a lifeblood as […]
Data Consistency – Why You Need an ACID Database in Financial Services
In 2016, we partnered with Research Now to conduct a survey on a subject we take very seriously: data consistency. The results were shocking. While there was wide agreement on what is defined by “critical data” (financial data), only 58% of people surveyed stated that having consistent critical data transactions was vital to their business. […]
MiFID II – You’re doing it wrong …
Many financial services organizations are well on their way to implementing a data management and reporting strategy to comply with the upcoming MiFID II requirements. For our procrastinator friends out there who perhaps haven’t read through all 196 pages of the regulation as it pertains to transaction reporting requirements, here’s what you need to know. […]
