ANOMALY DETECION IN STREAMING DATA
From data lake towards data rivers
DOWNLOAD; while banking processes move towards real-time and cloud technology, data lakes / warehouses are filled with historic data and becoming more difficult to maintain due to GDPR, quality validation and ownership of the data. This makes it apparent that the anomaly detection mechanisms need to focus on the data sources themselves in real-time.
COMBATTING FINANCIAL CRIME AT SCALE
with organized, intelligent real-time responses by CELENT
DOWNLOAD or VIEW; "The siloed approach is not working. A typical financial crime division is plagued by operational inefficiencies. Compliance departments have ballooned in size and budgets have risen dramatically. At the crux of the problem is the industry’s stubborn siloed approach to managing risk. Banks continue to operate monitoring and detection systems with limited and rigid rules by channel or product or risk domain."
OPEN CRIME
Belleron on Financial Innovation
DOWNLOAD; we highlight that open innovation stimulates hostile actors to be creative and brilliant in yet unknown ways. They will not only target banks directly but will also target 'the path of least resistance'; like early start-ups and other consumer facing service providers that interact banks, all based on PSD2 and Open Banking.
HOW TO KILL A BANK
Belleron on Financial Terrorism
DOWNLOAD; most banks put a tremendous effort in preventing identify theft, financial fraud, money laundering, terrorist financing and other risk sensitive customer activities. The question is if these account centric detection systems are relevant for detecting a financial terrorism attack, aimed at disrupting the financial system.