#NMSV- 2016- Will Real-Time Analytics and Continuous Monitoring minimize Risks for Banking?
Rajesh Patil
CEO at Digital Agents Service Organization- Bringing trained digital agents to financial institutions. DASO AI
We had another awesome Next Money Silicon Valley Meetup on Dec 1st 2016. Thanks to our Sponsor "Helios and Matheson Analytics (HMNY)" and our host "Technology Credit Union" and two amazing speakers "Karthik Ramasamy" and "Samba Murthy"
https://thefinancialbrand.com/62426/bank-customer-big-data-insights-analytics/
One of the main reasons behind inviting these speakers was to learn "How banking industry can benefit from the Real-time and Continuous Monitoring technologies?" .
The areas that I personally see this type of technology being used in Banking are:
- Real-time Triggers for Fraud Monitoring and Prevention
- Real-time Insights on Customer/ Member Financial Needs
- Risk-Free and Fast Money Movement Solutions
- Real-Time Tracking of Compliance and Regulatory Updates
No company other than Twitter understands Real-time better in today's world. Any news from any part of the globe is first reported on Twitter and its amazing to see how Twitter has put systems and solutions that will process data and deliver value in real-time.
Twitter has recently open-sourced a technology called "Heron" - A realtime, distributed, fault-tolerant stream processing engine from Twitter
We at Next Money meetup had an opportunity to learn about Heron from Karthik and appreciate the complexity behind the scenes that enable us to get our news on Twitter in real-time.
Security Risks are at its all time high in today's world. When we talk about hacks, we all think digital and forget the physical aspects of security threats. In recent years there were equal number of security breaches related to physical location, time and human emotions as well.
N S Sambamurthy, spoke about how companies can prevent security breaches by introducing continuous monitoring inside their network.
If you are interested in the video recording and presentation, please subit our online contact form and I will email you the links when ready.
Here are few pictures from the event:
Disclaimer: These are my personal opinions and not my company's.
Rajesh is an accomplished Digital Transformation Leader with Strategic, Tactical, and Technical experience in leading and building a multi-channel digital platform with Omni-channel experience for financial institutes. His vision is to build a data driven digital strategy for Financial Institutions that’s measureable, actionable and profitable