The world’s financial markets and financial services companies generate and store petabytes of data on a daily basis.
Their sheer number of applications, data elements, and regulatory requirements creates the “perfect storm” of information management. The culmination of these attributes and the fiercely competitive and time- critical nature of the financial industry results in an analytic opportunity only few can address. For example, fast risk analysis is essential at crucial time windows: prior to intraday trading, mortgage approvals, loan guarantees, and other financial transactions. In these and other situations, minutes could mean a difference of millions of dollars on a single transaction.
Financial services institutions (FSIs) need to continually run countless simulations and scenarios to assess risk and other regulator-ready benchmarks and metrics. It’s not only risk analysis that financial services and other enterprises must worry about. Detecting and identifying fraudulent activity – with credit cards, deposits, insurance, and more – has become an area of increased importance to organizations across the financial value chain. HPE Vertica enables the financial services ecosystem to analyze and make informed decisions in near real time with SQL-based Monte Carlo techniques, integration with statistical modeling tools, Built-in machine learning algorithms, and unparalleled efficiency, performance, and scalability.