SBI to implement Big Data Lake solution
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.