Learn how you can embrace the free and secure flow of data within your organization and outward to the customer by building a data as a service organization in the context of data mesh and MACH principles.
Customers are making more financial transactions than ever – often from a mobile device in the palm of their hands. Keeping up with the growing volume of payments is a core challenge in the banking sector. Respond to changing customer and merchant expectations with the agility enabled both by MongoDB's JSON document model and flexible schemas in your banking system. A traditional bank database can't meet these evolving payment requirements.
Traditionally, multiple database systems and legacy architectures have created silos that made it impossible to derive true value from data. Access to a single view of your banking data, especially a customer's account data, across the enterprise, can provide a firmwide view of asset and counterparty exposure or a single view of your customer for fraud detection and Know Your Customer (KYC) requirements.
Today, customers want instantaneous access to their transaction history, from a deposit they just made at their local bank branch to a purchase they made online. With MongoDB's modern developer database, you can analyze sentiment, price fluctuations, and weather and satellite data to inform your trading algorithms in real-time, on top of providing customer data in an instant. Traditional relational databases simply can't keep up with the increasing volume of data.
Security is essential in your mission critical databases. Built-in security controls, as well as a digital framework for compliance, allows you to streamline your procedures, carry out digital audits, and link back to key decision points. Integrate your existing security practices and processes with MongoDB to provide additional control over how you secure and store data in your environment.
A March 2021 global survey conducted by Celent, in partnership with MongoDB and Icon Solutions, shows what corporate clients want from their data-led services, and how companies plan to monetize payment data and support compliance with ISO 20022.
FinTech Futures, in collaboration with MongoDB, went to the market in search of the technological and strategic priorities for leaders and executives in the lending space as we drive into a digital future. The survey looks into the current state of the loans process within firms and where they are at with their automation/digitization of the process.
To better understand the path forward for the financial services industry in Asia, Celent, the leading research and advisory firm focused on technology for financial institutions globally, has conducted a detailed analysis of today’s landscape. This is based upon in-depth primary research conducted in 2021.