nach oben

2021 | Buch

Kapitel lesen Erstes Kapitel lesen

The Digital Journey of Banking and Insurance, Volume III

Data Storage, Data Processing and Data Analysis

herausgegeben von: Volker Liermann, Claus Stegmann

Verlag: Springer International Publishing

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Einloggen, um Zugang zu erhalten

Über dieses Buch

This book, the third one of three volumes, focuses on data and the actions around data, like storage and processing. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. In the last volume of the series, “Data Storage, Processing and Analysis”, the shifts in the way we deal with data are addressed.

Inhaltsverzeichnis

Frontmatter

Big Data and Special Databases

Frontmatter

Data Lineage

Abstract

With increasing complexity of firms’ IT landscapes and growing regulatory pressure, data lineage has become an increasingly crucial topic over the years, especially in highly regulated industries like the financial or the pharmaceuticals sector. In this section, using our practical expertise on this topic, firstly we define the term data lineage and explain its relevance. We then present several approaches and discuss the topic of tooling. Finally, we present our view of the future developments in this field.

Jens Freche, Milan den Heijer, Bastian Wormuth

Digitization and MongoDB—The Art of Possible

Abstract

The authors set the scene many organizations are facing: the need for organizational flexibility, the need for de-siloing applications, and the challenge of how to get to the cloud. The authors offer different approaches to moving to the cloud and introduce MongoDB as a tool to provide organizational flexibility and support in de-siloing applications.

Boris Bialek

Graph Databases

Abstract

Graph databases are the technical implementation of graph theory, a concept that was introduced to applied mathematics about 200 years ago. Its versatile usability for various business and private applications fostered the establishment of a graph industry that markets graph databases, graph analysis tools, and graph frameworks. This article introduces the scientific foundations for graph theory and its realization in graph databases, and explains typical analysis tools and applications.

Krystyna Bajer, Anne Seidlitz, Sascha Steltgens, Bastian Wormuth

Data Tiering Options with SAP HANA and Usage in a Hadoop Scenario

Abstract

The authors provide an overview of data tiering options with SAP HANA in various settings. For a Big Data scenario, the tandem SAP HANA and Hadoop is a good fit to cope with the future challenges and make use of Hadoop as a data tiering platform for SAP HANA. A deeper look is taken into connecting HANA with Hadoop via the Spark Controller and applying data tiering with the Data Lifecycle Manager.

Michael Morawski, Georg Schmidt

Streaming

Frontmatter

Kafka: Real-Time Streaming for the Finance Industry

Abstract

Apache Kafka offers a cost-efficient way to modernize IT landscapes and enable innovation. Increasing data volumes and the ability to process events in real time require a platform such as Kafka. Because of its integration capabilities, one can also combine Kafka with standard software for use cases that require best practice business logic (e.g., accounting). It is not necessary to completely replace the current architecture with Kafka all at once. One can start with just a few use cases in order to gain experience and add more over time. Cloud infrastructure also makes it easier to start with Kafka with only a limited investment.

Ralph Steurer

Architecture Patterns—Batch and Real-Time Capabilities

Abstract

The Lambda architecture approach is designed to handle massive quantities of data by taking advantage of a combination of batch and stream processing methods. The authors highlight the main ideas of this approach in the context of financial management in banks and insurance companies.

Dennis Kraetz, Michael Morawski

Kafka—A Practical Implementation of Intraday Liquidity Risk Management

Abstract

This article shows a practical implementation of intraday liquidity risk management in the high-throughput, low-latency platform of Apache Kafka. The authors describe the business process and challenge in intraday liquidity management. In addition, the chapter delivers a practical application of Apache Kafka in combination with machine learning.

Volker Liermann, Sangmeng Li, Ralph Steurer

Data: A View of Meta Aspects

Frontmatter

Data Sustainability—A Thorough Consideration

Abstract

The two main topics in this article are virtually omnipresent these days: data and sustainability. Linking them together seems obvious, considering the urgency of dealing with both. In this article, we explain which aspects are linked to a sustainable dealing with data, before we transition to direct and indirect impacts on the environment.

Eljar Akhgarnush

Special Data for Insurance Companies

Abstract

The article investigates the potential of wearables and the Internet of Things (IoT) in the insurance business, especially regarding pricing and product design.

Jeyakrishna Velauthapillai, Johannes Floß

Data Protection—Putting the Brakes on Digitalization Processes?

Abstract

The data protection regulations in Europe and elsewhere specify how to ensure the privacy of information regarding private individuals stored digitally and non-digitally. These regulations have a major impact on business models and processes in the context of digitalization. The article first briefly describes the main principles of data protection law before comparing the data protection regulations in Europe, California (USA), Canada and Japan. Finally, practical examples are used to illustrate the challenges resulting from the restrictions imposed by data protection requirements and how to deal with them.

Marie Kristin Czwalina, Matthias Kurfels, Stefan Strube

Distributed Ledger

Frontmatter

Digital Identity Management—For Humans Only?

Abstract

How is it possible to identify people or companies beyond doubt in a modern digital world? This article shows the necessity for digital identification with self-sovereign digital identities (SSI) today and outlines how it can be performed. The authors present ideas for applications by implementing a project reference platform using the “need-to-know” approach and by using a blockchain to find reliable information about the nature and type of risk of certain assets.

Matthias Kurfels, Heinrich Krebs, Fabian Bruse

Machine Learning and Deep Learning

Frontmatter

Overview Machine Learning and Deep Learning Frameworks

Abstract

This chapter provides an overview of the different machine learning (ML) and deep learning (DL) frameworks, aiming to show the variety ranging from different open-source initiatives through to standard software vendors and specialized start-ups contributing to the enormous amount of tools to analyze, condense and predict data.

Volker Liermann

Methods of Machine Learning

Abstract

The article refers to the book “The Impact of Digital Transformation and Fintech on the Finance Professional”, more specifically to chapter 16, “Mathematical Background of Machine Learning”. Some additional methods used and presented in this book serve as an addition to the methods presented in the previous book. The topics focused on are model validation, imbalanced data and model interpretability.

Volker Liermann, Sangmeng Li

Summary

Abstract

This final part summarizes the third volume, with all its data-related aspects including architecture patterns for streaming, special databases (like graph or document-based databases) and some specific aspects of distributed ledger and self-sovereign digital identities (SSI). Furthermore, the part summarizes the whole book series.

Volker Liermann, Claus Stegmann

Backmatter

Titel: The Digital Journey of Banking and Insurance, Volume III
herausgegeben von: Volker Liermann
Claus Stegmann
Verlag: Springer International Publishing
Electronic ISBN: 978-3-030-78821-6
Print ISBN: 978-3-030-78820-9
DOI: https://doi.org/10.1007/978-3-030-78821-6