A Real-time data streaming solution empowered with on-demand analytics for financial business partners.
Coforge StreamXpress accelerator enables Banking & Financial services organisations respond to information in a more agile manner. With stream processing and the associated streaming data architecture environment, StreamXpress ensures real-time monitoring of customer activity data. The solution allows businesses to act on changes and alerts instantly and ensures that issues are detected and resolved proactively while providing an enhanced customer experience across various banking channels.
StreamXpress accelerator uses mix of latest innovations in technologies to capture changes in data and stream it real time to aggregate it for reporting The modern Streaming and analytics technologies viz Kafka, Debezium,Databricks , with inbuilt business transforming features at its core, brings to ease the challenges not only in preventing the frauds but also in the entire Financial and Banking Services . At Coforge, the StreamXpress Solution on Azure cloud combines the aspects of streaming, scalability and the ability to process huge volume data, transmit and store millions of records to provide a strategic edge to businesses.
At present, Banking & Financial institutions face data challenges. The traditional business intelligence (BI) and data warehousing approaches rely on persisting data and bulk analysis introduces far too much latency resulting in delays while delivering real time insights. The ability to monitor and update data in real–time is a critical capability. Hence, there is imminent need to quickly ingest, analyze and act on the insights uncovered from massive volumes of rich and disparate data streaming in from a multitude of sources. It is important to establish data quality for streaming data to ensure that data is being reliably delivered and data integrity is maintained despite high volumes and high speeds.
Capability to ingest data from variety of sources including csv, json, parquet, ORC with any volume.
StreamXpress solution hosted on the cloud gives stakeholders an advantage of having to invest less and scale up easily as the number of transactions go up.
Industry level data standardisation backed by proven technologies like databricks. It enables standards across processes like Cleansing, Validation framework & ML Modelling.
Pre build software tool, cost effective development, scalability, Stability, Reliability.
Improved Data Governance & Data Security
The solution allows on-demand decisions based on real time customer interactions improving services across channels.
Identify and prevent suspected attacks across banking & financial channels.
Quickly identify customer behavioural anomalies, vulnerable terminals, and compromises to the payments.
Deliver improved fraud detection mechanism in Banking & Financial institutions.
Detailed analytics dashboards help business users understand complexity of the problem enabling proactive management actions.
Docker, Databricks, Debezium, Kafka, MySQL, Postgres, ReactJS, Flask, Python, Scala
The use case shows how a bank in Singapore used this solution for real-time transaction performance monitoring, payment fraud detection, and real-time analytics for omnichannel banking, ATM self-service networks, and payment processing environments.Live Demo