To compete in today’s environment, financial services must leverage technology to create responsive and agile systems as well as user customer experiences. With users expecting internet-like search capabilities, financial institutions must adopt search mechanisms that are easy and intuitive to use in order to solve for a variety of user and applications needs, ranging from internal research investigation to information discovery for external customers.
Current standard banking platforms can easily hold over 100,000+ tables in their relational databases, which make searching for information pernicious and costly. You’ll find institutions adopting specialized search engines on top of their relational databases. However, bolting on a search engine adds the operational overhead of maintaining three separate systems (search engine, database, and sync mechanisms). Combining MongoDB Atlas and Atlas Search, financial institutions can reduce operational overheads whilst transforming customer engagement and internal efficiencies.
Download this white paper to gain a detailed understanding of the following:
- Current search capabilities and faults in financial services.
- Search Use Cases ranging from online banking platform, process overview to sanctions screening.
- How MongoDB solves search and more.