OVERVIEW MAPR: THE CONVERGED DATA PLATFORM FOR FINANCIAL SERVICES

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1 OVERVIEW MAPR: THE CONVERGED DATA PLATFORM FOR FINANCIAL SERVICES 1

2 BIG DATA PUT TO WORK IN THE FINANCIAL SERVICES WORLD The strong interlock between digital transformation and big data is driving change to traditional business models. For example, American Express uses machine learning techniques across a wide range of interactions to better understand the data from both the customer and merchant side moving through its systems. The resulting application connects card members and merchants through relevant and personalized digital offers. As the move toward digitization and data-driven optimization of business processes accelerate, innovative uses of data come at a perfect time for the challenges facing the industry. The ability to access, organize, and analyze vast volumes of structured and unstructured data while meeting the demands of clients and regulators is critical to financial services companies as they improve business efficiency and their performance. Better Data Management Most new and increasingly valuable data is unstructured and not captured within a firm due to its added complexity. Financial services needs a new data platform that converges data management and application processing technologies to support real-time analysis of a broad variety of data types. Improved Fraud Detection Credit card fraud globally costs billions $16 billion in 2016 and growing fast. That figure does not take into account the cost of fraud detection and prevention. When big data is leveraged to identity potential fraud and automate fraud alerts to card members through instant s or text messages, billions of dollars can be saved annually. Regulatory Compliance Fast-changing government regulations impact all aspects of data governance, including the way data is aggregated, stored, managed, and share outward. The initiative to better meet regulations by eliminating information silos while leveraging new alternative data is extremely challenging. Customer Intimacy For banks and financial services companies to keep customers for the long term, they must understand and anticipate their needs and be able to proactively position their products. If they fail, customers will choose to get financial services elsewhere. Over time, the customers might entirely leave the institution. 2

3 THE ENTERPRISE DATA FABRIC The effort to achieve digital transformation and the associated advanced analytical demands are not easy. At the data layer, simplicity, flexibility, and resiliency are critical in helping financial services firms move more rapidly to meet the demands of the business and their customers. With MapR, financial services can rely on a fast, hardened enterprise-grade data platform that can simultaneously power the latest analytics technology, all types of data, cognitive computing and legacy software at global scale for fraud detection, regulatory compliance, and new products and applications that appeal to customers. MapR is a next-generation data platform that can be the enterprise data fabric as financial institutions weave optimization, prediction, and forecasting into their operations. It works on premises, in the cloud, or with both as the system of record and persistent data store for critical business operations in risk (market, credit, AML/KYC), regulation (SEC/FINRA, BCBS 239), customer intimacy and payments. DATA SOURCES DATA MANAGEMENT & PROCESSING OUTCOMES Vendor Feeds Reduce Risk and Fraud Market Data Direct Feeds Sentiment/Social Geospatial/Weather News Real-Time Events Customer 360 Recommendation Engine Anomaly Detection Actionable Insight Comply with Regulatory Requirements Build New Products and Applications Maximize Revenue in High Frequency Trading Reference Data Segment Customers External DBs Personalize Offerings Local Data Sources Social Network Data Prediction Scenarios Advanced Analytics Advanced Data Management MapR Converged Data Platform Optimize Operations Recommend Best Investment Options 3

4 FROM DATA TO DATA-DRIVEN INCREASE REVENUE A big advantage of using the MapR Platform is the ability to quickly combine and analyze a variety of structured and unstructured data in a single platform. This enables financial services firms to find patterns in customer behavior based on where and for how much and what they use their debit or credit card for example. When this behavior is monitored, financial services firms can identify cross-sell or up-sell opportunities, thereby grow the business by selling more targeted services and products to customers. KEEPING UP WITH EVER CHANGING FRAUDULENT ACTIVITY REDUCE COSTS Each year, stakes are raised for fraud. Fines are rising and compliance demands have forced banks to increase monitoring of transactions and money laundering detection as prevention efforts. However, protecting customer data while detecting fraud more effectively is extremely challenging and expensive with legacy systems. With the MapR Platform, fraud can be easily detected with greater accuracy to reduce costs. For example, analyzing a transaction based on different data sets while the transaction takes place allows firms to block a transaction before it has taken place. ONE VIEW OF A CUSTOMER ACROSS CHANNELS IMPROVE CUSTOMER SATISFACTION Customer satisfaction can be improved in many different ways with big data. By combining social media data with transactional data, financial services firms can understand how customers think about or use new products or services. For example, when a bank analyzes how an online banking application is used based on time of day, how customers move through the app, and where they click, banks gain insights into how the application can be improved. Instead of asking for feedback through long and expensive surveys, the feedback is instant and without bothering the customer. 4

5 SUMMARY The strong interlock between digital transformation and big data is driving change to traditional business models. For example, American Express uses machine learning techniques across a wide range of interactions to better understand the data from both the customer and merchant side moving through its systems. The resulting application connects card members and merchants through relevant and personalized digital offers. As the move toward digitization and data-driven optimization of business processes accelerate, innovative uses of data come at a perfect time for the challenges facing the industry. The ability to access, organize, and analyze vast volumes of structured and unstructured data while meeting the demands of clients and regulators is critical to financial services companies as they improve business efficiency and their performance. MapR is a next-generation data platform that can be the enterprise data fabric as financial institutions weave optimization, prediction, and forecasting into their operations. It works on premises, in the cloud, or with both as the system of record and persistent data store for critical business operations in risk (market, credit, AML/ KYC), regulation (SEC/FINRA, BCBS 239), customer intimacy and payments. CONTACT US info@mapr.com TRY MAPR Download FINANCIAL SERVICES KEY PRIORITIES Better Data Management Improved Fraud Detection Regulatory Compliance Customer Intimacy Increase Revenue Reduce Costs Improve Customer Satisfaction MapR and the MapR logo are registered trademarks of MapR and its subsidiaries in the United States and other countries. Other marks and brands may be claimed as the property of others. The product plans, specifications, and descriptions herein are provided for information only and subject to change without notice, and are provided without warranty of any kind, express or implied. Copyright 2017 MapR Technologies, Inc. 5