Solutions for new and complex requirements on financial institutions
- The compliance and reporting requirements resulting from the financial melt down of 2008 have introduced new and complex requirements on financial institutions, corporations and governments.
- Dodd-Frank Wall Street Reform
- Mortgage and Loan rules and auditability of transactions
- Credit Default Swaps ownership reporting
- Know Your Customer requirements
- Business and Legal Entity tracking requirements
- Computation of derivatives risk
- Basal III international regulations
- Foreign corrupt Practices Act
- UK Bribery Act
- Fraud Detection
- Personal Information security
- New regulations on transfer pricing
All of these requirements have one common aspect: The Data is Complex
- Much of the data is unstructured or semi-structured.
- The data resides in multiple repositories, not all of which are controlled by any one single entity.
- The data may not utilize the same taxonomy but still needs to be integrated.
- The volume of data is huge, and will only grow more.
- More, varied data sources are being added every day.
- The transaction data has key characteristics that must be understood to better service customers and to protect from fraud.
- Geo-location – perhaps network address or physical address.
- Temporal – perhaps bi-temporal information.
- Social Network analytics – the path of connected people.
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