How Streaming Data Will Be Transformative To The Future of Financial Services Organizations

Streaming data is the glue that takes information from siloed systems such as retail banking, loan processing, and credit cards and combines it with mobile banking and website activity—without requiring any modification of the existing systems. For financial services, there’s a very clear advantage to linking together the data already being produced on legacy technologies:
 

• Real-time alerts for customers automatically triggered at key times, such as when there’s a low balance or duplicate charges

• The ability to detect and prevent fraud in real time

• Critical, timely information to help with risk management and compliance obligations

It’s a massive paradigm shift in the experience financial institutions can grant their customers and how institutions protect themselves, too. Ventana Research recommends that financial services organizations exploit read-time streaming data to transform their operations and improve bottom lines.