Entries tagged [architecture]
by Jerome Kehrli
Posted on Friday Sep 03, 2021 at 11:17AM in Big Data
(Article initially published on NetGuardians' blog)
NetGuardians overcomes the problems of analyzing billions of pieces of data in real time with a unique combination of technologies to offer unbeatable fraud detection and efficient transaction monitoring without undermining the customer experience or the operational efficiency and security in an enterprise-ready solution.
When it comes to data analytics, the more data the better, right? Not so fast. That’s only true if you can crunch that data in a timely and cost-effective way.
This is the problem facing banks looking to Big Data technology to help them spot and stop fraudulent and/or non-compliant transactions. With a window of no more than a hundredth of a millisecond to assess a transaction and assign a risk score, banks need accurate and robust real-time analytics delivered at an affordable price. Furthermore, they need a scalable system that can score not one but many thousands of transactions within a few seconds and grow with the bank as the industry moves to real-time processing.
AML transaction monitoring might be simple on paper but making it effective and ensuring it doesn’t become a drag on operations has been a big ask. Using artificial intelligence to post-process and analyze alerts as they are thrown up is a game-changing paradigm, delivering a significant reduction in the operational cost of analyzing those alerts. But accurate fraud risk scoring is a much harder game. Some fraud mitigation solutions based on rules engines focus on what the fraudsters do, which entails an endless game of cat and mouse, staying up to date with their latest scams. By definition, this leaves the bank at least one step behind.
At NetGuardians, rather than try to keep up with the fraudsters, we focus on what we know and what changes very little – customers’ behavior and that of bank staff. By learning “normal” behavior, such as typical time of transaction, size, beneficiary, location, device, trades, etc., for each customer and internal user, and comparing each new transaction or activity against those of the past, we can give every transaction a risk score.Read More
by Jerome Kehrli
Posted on Friday May 04, 2018 at 12:32PM in Big Data
The Lambda Architecture, first proposed by Nathan Marz, attempts to provide a combination of technologies that together provide the characteristics of a web-scale system that satisfies requirements for availability, maintainability, fault-tolerance and low-latency.
Quoting Wikipedia: "Lambda architecture is a data-processing architecture designed to handle massive quantities of data by taking advantage of both batch- and stream-processing methods.
This approach to architecture attempts to balance latency, throughput, and fault-tolerance by using batch processing to provide comprehensive and accurate views of batch data, while simultaneously using real-time stream processing to provide views of online data. The two view outputs may be joined before presentation.
The rise of lambda architecture is correlated with the growth of big data, real-time analytics, and the drive to mitigate the latencies of map-reduce."
In my current company - NetGuardians - we detect banking fraud using several techniques, among which real-time scoring of transactions to compute a risk score.
The deployment of Lambda Architecture has been a key evolution to help us evolve towards real-time scoring on the large scale.
In this article, I intend to present how we do Lambda Architecture in my company using Apache Kafka, ElasticSearch and Apache Spark with its extension Spark-Streaming, and what it brings to us.Read More
by Jerome Kehrli
Posted on Friday Oct 07, 2016 at 12:01AM in Computer Science
I interested myself deeply in the blockchain topic recently and this is the first article of a coming whole serie around the blockchain.
This article presents an introduction on the blockchain, presents what it is in the light of its initial deployment in the Bitcoin project as well as all technical details and architecture concerns behind it.
We won't focus here on business applications aside from what is required to present the blockchain purpose, more concrete business applications and evolutions will be the topic of another post in the coming days / weeks.
This article presents and explains all the key techniques and mechanisms behind the blockchain technology.
The blockchain principles and fundamentals are really coming initially from the design work on the Bitcoin. Most of this article focuses on the design and the principle of the blockchain put in place in the Bitcoin system.
Some more recent (Blockchain 2.0) implementations differ slightly while still sharing most genes with the original blockchain, making all that is presented below valid from a conceptual perspective in these other implementations as well.