Click here to close now.




















Welcome!

Blog Feed Post

GFT presents the big picture of harnessing big data in banking and insurance at CeBIT

Big data is taking financial services companies farther from risk, closer to customers

London, 6th February 2014 - It's on the tip of everyone's tongue, yet there is still mystery surrounding the use of big data in practice. GFT Technologies AG, one of the world's leading providers of IT solutions for the financial sector, wants to change this. At the upcoming CeBIT in Hanover, GFT will use specific applications to demonstrate when and where big data can make the biggest difference for financial services providers. From 10 to 14 March 2014, visitors to Hall 16 will experience first hand how banks can use big data to offer customers faster credit on better terms and conditions, without incurring greater risk. Other case studies relate to fraud detection/prevention and churn management - both tools which can be used to hinder customer attrition.

"Financial services providers typically deal with the processing and analysis of large volumes of data on a regular basis," states Marika Lulay, Chief Operating Officer at GFT. "Thanks to big data, they can now derive more targeted information from their data more quickly than ever. Analysis that previously would have taken weeks is now at their fingertips within minutes. The possibilities are tremendous and the solutions can be customised to the particular circumstances for better decision-making in real time."

GFT is illustrating just what this looks like in practice with a series of concrete application scenarios at the largest IT trade show in the world - CeBIT. There, financial services providers will discover the answers to questions like:

  • How can I determine which credit conditions I can offer my customer during the actual consulting session?
  • How can I protect users of my bank's payment cards from criminals?
  • How can an analysis of the relationships between the parties involved in an insurance transaction be used to anticipate fraudulent claims?
  • How can I prevent my customers from switching to another bank?

To tackle these challenges, GFT relies on various analytical methods like scoring models, or adaptive methods to recognise suspicious behavioural patterns or correlations. Using modern big data technologies such as SAP Hana and Hadoop can enhance the reliability of these types of analysis. These enable users to gain detailed insights in real time - on the basis of significantly more extensive data volumes from a broad variety of sources.

In the forefront of the entire debate is data security, as data confidentiality is a top priority throughout the financial services industry. "Banks and insurance companies traditionally set extremely high data security standards. From our experience working on countless big data projects in investment and retail banking at GFT, we can say without reservation that this is the case with big data as well," states Lulay.

Cardinis international launch
In addition to showcasing big data solutions at CeBIT, GFT will also introduce international trade visitors to a project and portfolio management software package called Cardinis. GFT Italia developed the suite, which is currently only available in Italy. It offers extra support and management assistance with any kind of company project, helping identify the links between projects and providing managers with a continual overview of costs, risks and interdependencies. Cardinis is one of the few European project management solutions to have made it into Gartner's Magic Quadrant.

About the GFT Group:
The GFT Group is a global technology partner for future digital issues - covering everything from discovering innovation to developing and implementing sustainable business models.

Within the GFT Group, GFT stands for competent consulting and reliable development, implementation and maintenance of customized IT solutions. The company is one of the world's leading IT solutions providers in the banking sector.

emagine offers companies the opportunity to staff their strategic technology projects both quickly and flexibly with capable experts. To achieve this, emagine has an international network of highly qualified IT and engineering specialists at its disposal.

CODE_n, the GFT Group's innovation platform, offers international startups, technology pioneers and established companies access to a global network. It's where ideas become business.

Headquartered in Germany, the GFT Group has stood for technological expertise, innovative strength and outstanding quality for over 25 years. Founded in 1987, the GFT Group expected to achieve revenues of around €260 million in 2013. With a global team spanning 2,000 employees, the company is represented in eight countries by its 32 local offices. The GFT Group is listed on the Frankfurt Stock Exchange (Prime Standard).

Press contact
Felix Jansen
GFT Technologies AG
[email protected]
+49 (0)711 62042-115

Rose Ross
Omarketing (for GFT UK)
[email protected]
+44 (0)20 8255 5225

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

Latest Stories
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what...
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...