SBI to im­ple­ment Big Data Lake so­lu­tion

Banking Frontiers - - Project Pipeline -

State Bank of In­dia is pre­par­ing to im­ple­ment a uni­fied, scal­able, cen­tral Big Data Lake so­lu­tion as a stor­age and pro­cess­ing in­fra­struc­ture. The sys­tem, the bank ex­pects, should serve as one true and up-to­date source of data for re­port­ing, busi­ness in­tel­li­gence, ad­vanced an­a­lyt­ics and AI re­quire­ments at the bank. Be­sides, it should also re­duce the an­a­lyt­i­cal and re­port­ing bur­den on source sys­tems cur­rently ex­pe­ri­enced. The bank has sought pro­pos­als from ex­pe­ri­enced ser­vice providers to un­der­take the pro­ject. The sys­tem would be re­quired as the bank is in­tend­ing to ap­ply ad­vanced tech­niques like ma­chine learn­ing within fraud and risk to im­prove mod­els and al­low ac­cel­er­a­tion to­wards more real-time anal­y­sis and alert­ing. The sys­tem, the bank feels, would help it gain an ad­van­tage over its com­peti­tors in terms of in­no­va­tion, time to mar­ket, user de­light, cost of ser­vice, de­spite its be­he­moth size and scale. The Big Data Lake is ex­pected to serve as a con­verged reg­u­la­tory and risk data hub. The bank is also in­creas­ingly look­ing at IoT data for ATM or mobile bank­ing. The Data Lake is ex­pected to hold his­tor­i­cal data also for any ad-hoc anal­y­sis and will be su­per­set of ex­ist­ing en­ter­prise data ware­house.

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