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Open Access December 18, 2020

Event-Driven Architectures for Real-Time Regulatory Monitoring in Global Banking

Abstract The global banking industry is subject to ever-growing regulatory requirements, designed to prevent financial tour de force repeats tearing through the world economy. The changes are incomplete and new rules being enacted each year. Implementing and executing these rules and regulations requires the guiding principles from senior management to reach the product desks in a clear and efficient way. [...] Read more.
The global banking industry is subject to ever-growing regulatory requirements, designed to prevent financial tour de force repeats tearing through the world economy. The changes are incomplete and new rules being enacted each year. Implementing and executing these rules and regulations requires the guiding principles from senior management to reach the product desks in a clear and efficient way. Technical systems must implement these rules. Differences in interpretation, implementation, and warnings must be addressed during normal operations. Most importantly, systems must provide warning alerts to management and the business as early as possible, to allow for proper handling. History has shown that the importance of early warnings has been overlooked repeatedly. Real-time capabilities are essential to meet these business needs. Organizations must therefore be ready to embrace a next-generation architecture that enables real-time alert and warning generation. Systems based on a streaming architecture, combined with systems enabling the real-time flow of events between domains supported by orchestration, provide a solid foundation to meet these requirements.
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Keyword:  Real-Time Event Processing

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