UBS has moved its regulatory data onto a NoSQL database platform, allowing the bank to explore archived information for business intelligence purposes.
Like all large banks, the Swiss giant is required to gather an increasingly large amount of data in response to the demands of new regulation in the sector.
However, USB intends to make use of this customer transactional information – that could otherwise be left largely untouched for years – by accessing it through a non-relational database. The bank had previously relied on 60 relational database applications to hold its regulatory data.
“We have the sets of data there, so we are looking at what different purposes that we can put this to,” said UBS head of E & A comms IT, Mark Grant. “It goes beyond some of the original thoughts that we had.”
He added: “We built this for regulation and compliance purposes, but there are other potentials to mine the data for business intelligence reasons, such as finding out commonalities between the way customers interact with us.
This article has been extracted from http://www.computerworlduk.com, please click on this link to read the article in full http://www.computerworlduk.com/news/applications/3525057/ubs-opens-up-business-intelligence-opportunities-with-nosql-database/
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