As banking institutions face a rapidly evolving digital environment, they are being forced to modernize their data infrastructure across front-, middle- and back-office operations – utilizing data as a strategic asset to optimize their business.
The Aerospike Real-time Data Platform sits at the heart of the retail, corporate, and investment banking ecosystem where it:
The Aerospike Real-time Data Platform supplies and analyzes more data, faster to foundational banking applications including mobile banking, payments, customer 360, mobile, fraud prevention, and recommendation engines, enabling more differentiation, control, flexibility, ease of use, and reduced friction.
The Aerospike Real-time Data Platform supplies and analyzes more data, faster to mission-critical digital banking applications including payments, customer 360, fraud prevention, and recommendation engines enabling more differentiation, control, flexibility, ease of use, and reduced friction. The benefits include:
Today’s retail and corporate banking consumers expect an engaging, intelligent digital experience every time they transact with you online.
“We said we’re going to take all of these 350 million customers regardless of which line of business they belong to and create a single repository. It will give us a complete 360-degree view of the customer.”
– Harmeen Mehta, former Global CIO and Head of Digital, Airtel
As investment banks go digital, they discover an immense opportunity to use data as a strategic asset to expand their customer bases and provide a more personalized range of services.
Unencumbered by legacy systems and costly physical branches, digital banks can start fresh and re-imagine banking as a mobile-only service. Neobanks, or “challenger banks,” are fintech firms that offer apps, software, and other technologies to streamline mobile and online banking.
Learn more about how Aerospike powers digital banking success in multiple ways.
Strengthening middle office operations with a robust data infrastructure gives you a critical differentiator for your banking business, combining unmatched speed and deeper analysis to lower risk and improve decision making.
“With Aerospike, we were able to dramatically reduce stand-in processing (STIP), data consistency issues, and reduce false positives and false negatives for future transactions.”
– Dheeraj Mudgil, Vice President, Enterprise Fraud Architect, Barclays
Aerospike’s real-time data architecture strengthens every facet of back-office banking activity, helping you reliably manage accounts, customers and entities; automate clearing/settlement and reconciliation; conduct faster funds administration; manage operational risk and compliance, and minimize fraud exposure from cash management.
“We wanted … support for secondary indexes (and) an architecture that was fully scalable, distributed, shared nothing design. These are (some) of the reasons that we chose Aerospike.”
– Matteo Pelati, SVP, Data and Global APIs Engineering – DBS Bank
A study conducted by Forrester Consulting