Banking Architecture

A community for discussing the latest happenings in banking IT. Credit Crunch impacting Risk Systems overall, revamp of mortgage backed securities, payment transformations, include business, technology, data and systems architecture capturing IT trends, 'what to dos?' concerning design of systems.

Retired Member 

Fending off fraudsters: six steps to tackling financial crime in banking today

In the financial services industry, disruptive technology is generally seen as an enabler of business growth, as well as an enhanced consumer experience. For example, blockchain ledgers have the potential to significantly speed up international payments and also revolutionise the way customer records are stored. However, the rapid advance in cyber...

17 February 2017 /security

Nikhil Mittal Financial Crimes Consultant at Wells Fargo

Analytics is the oxygen that energizes new banks to scale new heights of modernization

Large, global banks process billions of transactions across service offerings to a plethora of customers across demographics, daily. In order to sustain effective operations, they must adopt cutting-edge analytics that churn the petabytes of rich information into valuable insights. As of today, most global banks are processing these petabytes of t...

26 July 2016 /regulation

Nikhil Mittal Financial Crimes Consultant at Wells Fargo

Apply intelligence where it is needed the most

In my previous blog, we talked about letting the CAT out of the bag in order to make risk management more effective. The 'T' we talked about previously was 'transactions,' the other two being 'customers' and 'accounts.' With the increasing number of channels of monetary transfers - both bank-regulated as well unregulated, anonymous ones, such as B...

26 July 2016 /regulation

Nikhil Mittal Financial Crimes Consultant at Wells Fargo

Risk Technology: Let the CAT out of the bag

Today's banks are facing a common challenge across the globe: mounting technology costs and increasing compliance requirements. New organizations are surfacing at every nook and corner to disrupt normal life through violence, and are being funded heavily to conduct global attacks. Due to the way the banks have operated so far - coupled with the ma...

26 July 2016 /regulation

Retired Member 

Some simple truths about project success

Several recent surveys show that the number of larger projects which are truly successful is well under fifty per cent. Some are outright failures; others fail to fulfil business objectives in some way or other. The larger a project is, the more likely it is to fail – and this is across all sectors. Almost half of all projects end up over budget a...

29 November 2013 /regulation

Retired Member 

Pace of Change and Innovation

Last Monday (23rd) was Day 1 of the Annual EBUG conference held in London's famous Institute of Civil Engineers. In a way it made me wonder if anyone will be able to Engineer the future of Cards & Payments after the influence of such auspicious surroundings. After presentations from the CIO of IBM and a representative of Intel it became clear (...

01 October 2013 /payments

Siddharth Udani Client Partner at Consulting

Has HR failed in Banks being root cause of issues?

Its quite interesting to see how a bank's human resourcing model works and the dependency on 'contractors'. Many banks have a model with least permanent employees and high reliance on contractors and external vendors to outsource work. To the extent, that supposed to be short term contractors even run large projects and its expenditures which runs...

27 July 2013

Amit Agrawal NA at in transit

Bitmessage : Communication from scratch

Bitmessage is a trustless, decentralized peer-to-peer messaging protocol (very similar to Bitcoin). It is a unified system that encrypts every message. It keeps secure the members of the communication: not only is the content of messages protected, but the sender and receiver of those messages is kept secret as well. Advantages of Bitmessage : 1....

15 July 2013 /payments

Retired Member 

ACID, BASE and NoSQL

My last post talked about Enterprise NoSQL and ACID vs. BASE in the context of handling data variety. In this one I'd like to delve deeper into transactional, Enterprise NoSQL. Let's start by focusing on the main question: How can one guarantee cross-record ACID transactions in a horizontally-scalable, schema-agnostic database? The short answer is...

09 May 2013

Retired Member 

Network Outages Highlight Key Areas of Weakness

The proposed Regulation SCI (Systems Compliance and Integrity) from the SEC may require further strengthening, but principles such as mandatory testing of disaster recovery procedures would ensure that financial organisations recognise some of the key weaknesses in their system infrastructures. One of the examples of system failure cited by the ...

08 May 2013 /security /regulation