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FierceBigData: Big data banking battle brewing

Banks are facing some of the biggest challenges they’ve ever seen–and this is an industry that has faced a lot over the years. Regulators and other enforcement agencies are arguably more relentless than in previous years to rid the industry of corruption and criminal behavior. But they’ve also added considerable pressure on banks to improve their technical forensic and security capabilities. Big data is the best answer to these problems but that’s not to say that it’s a quick and easy fix–nor is it to say that these are the only problems that need fixing.

FBDlogo“The criminals are also rapidly innovating their technology and their tactics, both within institutions as well as outside them,” explains Jason Bloomberg in his post in Forbes. “Money laundering, for example, has become increasingly sophisticated since the economic downturn of the last decade. Furthermore, the money launderers always seem to have an edge, as they obscure their activities by using the complexity of the global financial infrastructure to their advantage.

Read the entire article at http://www.fiercebigdata.com/story/big-data-banking-battle-brewing/2014-07-30.

Read the original blog entry...

More Stories By Jason Bloomberg

Jason Bloomberg is a leading IT industry analyst, Forbes contributor, keynote speaker, and globally recognized expert on multiple disruptive trends in enterprise technology and digital transformation. He is ranked #5 on Onalytica’s list of top Digital Transformation influencers for 2018 and #15 on Jax’s list of top DevOps influencers for 2017, the only person to appear on both lists.

As founder and president of Agile Digital Transformation analyst firm Intellyx, he advises, writes, and speaks on a diverse set of topics, including digital transformation, artificial intelligence, cloud computing, devops, big data/analytics, cybersecurity, blockchain/bitcoin/cryptocurrency, no-code/low-code platforms and tools, organizational transformation, internet of things, enterprise architecture, SD-WAN/SDX, mainframes, hybrid IT, and legacy transformation, among other topics.

Mr. Bloomberg’s articles in Forbes are often viewed by more than 100,000 readers. During his career, he has published over 1,200 articles (over 200 for Forbes alone), spoken at over 400 conferences and webinars, and he has been quoted in the press and blogosphere over 2,000 times.

Mr. Bloomberg is the author or coauthor of four books: The Agile Architecture Revolution (Wiley, 2013), Service Orient or Be Doomed! How Service Orientation Will Change Your Business (Wiley, 2006), XML and Web Services Unleashed (SAMS Publishing, 2002), and Web Page Scripting Techniques (Hayden Books, 1996). His next book, Agile Digital Transformation, is due within the next year.

At SOA-focused industry analyst firm ZapThink from 2001 to 2013, Mr. Bloomberg created and delivered the Licensed ZapThink Architect (LZA) Service-Oriented Architecture (SOA) course and associated credential, certifying over 1,700 professionals worldwide. He is one of the original Managing Partners of ZapThink LLC, which was acquired by Dovel Technologies in 2011.

Prior to ZapThink, Mr. Bloomberg built a diverse background in eBusiness technology management and industry analysis, including serving as a senior analyst in IDC’s eBusiness Advisory group, as well as holding eBusiness management positions at USWeb/CKS (later marchFIRST) and WaveBend Solutions (now Hitachi Consulting), and several software and web development positions.

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