Banks and other financial services firms face a slow economic recovery, pessimistic economic forecasts worldwide, demands to improve their balance sheets, and more. As a result, banks are cutting costs, restructuring, optimizing business lines, and exiting less profitable activities – all while under pressure to satisfy new compliance regulations designed to protect against another economic meltdown. From Basel III and IV, MiFID II, and Ethics Standard Banking in the EU, to CCAR, Enhanced Prudential Standards, Dodd-Frank, and Enhanced Consumer Protection regulations in the U.S., institutions must find ways to monitor, collect, and analyze massive amounts of data in real-time.
To meet this real-time regulatory compliance challenge, forward-thinking banks and other firms are embracing new services and technologies. For example, new fintech products and services help improve operational efficiency across organizations and offer cost-effective scalability and improved access to data. Meanwhile, agile architectures, big data, and advanced analytics capabilities enable IT to create infrastructures that support predictive analytics, data mining, simulations, location-based intelligence and more, and distributed ledgers and blockchains can now accelerate trade execution. Reliable open source software solutions are also now a standard way for firms to reduce costs.
In-Memory Computing for Financial Regulatory Compliance
One of the most important solutions in this new technology and services mix is in-memory computing. By holding data in RAM, in-memory computing solutions operate thousands of times faster than traditional disk-based platforms and provide a simple solution for scalability: just add new nodes to a distributed computing cluster to increase the total RAM available.
Real-Time Financial Regulatory Compliance White Paper
If your organization is trying to understand the best path forward to meet the real-time regulatory compliance challenge, please download Achieving Real-Time Financial Regulatory Compliance with In-Memory Computing, a new GridGain whitepaper that takes a more detailed look at the current regulatory compliance landscape, the proactive controls banks are instituting and strengthening, and the resulting technology implications and trends.
As always, if you have questions or comments, please let us know!