Big data approach in Banking systemGautam Goswami
Typically Banking systems are responsible to validate and verify financial transaction data, geo-location data from mobile devices, merchant data, and authorization including submission data.
Data from lots of social media channels and Banking’s mainframe data center have a significant challenge to process and deliver final output.
Legacy systems are incapable of processing the data in when is in motion.
Combining all different format of data is together is another challenge like structured, semi- structured and un-structured.
Big data Approach:-
Big data analytics enables to combine, integrate and analyze all the data at once – regardless of source, type, size, or format – to generate the insights and metrics needed to address fraud and compliance-related challenges.