Banking & Financial services

Redesigning the Modern Bank with High-speed Big Data Transfer

Faced with the exponential growth in data, financial institutions are striving to better manage larger file sizes and volumes of big data, all while maintaining tight security and complying with strict regulations. As the leader in bulk data transport, Aspera is helping leading financial service firms bring their legacy businesses into the future with superfast, secure data transfers over standard IP networks, no matter how large the data nor how far the distance.

Benefits

     
Access Data Faster to Make Quicker Decisions    Improve Compliance and Avoid Regulatory Penalties Increase Bank Satisfaction While Reducing Costs
Reduce turnarounds on big data analytics by quickly gathering large sets of data in HPC servers and distributing findings to field traders, underwriters and decision makers at maximum speed. Meet audit timelines and avoid regulatory fines with high-speed collection of data. Ensure data sharing across the firm is compliant and secure with enterprise grade encryption & user controls. Settle accounts and update customer facing systems faster with high-speed delivery of bulk transaction data. Digitize bank activities & improve self-service with fast and secure file sharing.


Use Cases

Banking and Trading Big Data Analytics

Financial institutions capture enormous quantities of digital information – transactions, credit card statements, appraisals, loan data – and they must make sense of this data to improve fraud detection, underwriting, lending, portfolio management and marketing. Migrating these large, silo’ed sets of data across distance in a reasonable amount of time – whether it’s to an analytics vendor or cloud HPC analytics cluster – is challenging. With Aspera software, financial firms can securely transfer large volumes of data over global networks at high speed, making it easy to quickly aggregate big data for analytics and share the findings back out to remote investors, underwriters and corporate teams.

Large Batch Transaction Processing

Many core banking, insurance and trading operations – such as credit card settlements – are processed and updated in bulk batches overnight. This requires moving large transactional data across branch locations, datacenters, processing vendors and financial institutions within tight SLAs. Legacy FTP tools struggle to keep up with bulk deliveries. Failed and delayed transfers tie up finances in unsettled accounts and leave customer facing systems outdated. With Aspera high-speed transfers, large batch deliveries are sent at maximum speed with guaranteed delivery over any distance. SLAs never get missed and processing resources are maximized.

Regulatory and Compliance Reporting

Evolving global regulations – such as Dodd-Frank, FICA, Basel, and FINRA – require financial institutions to securely store, manage, track and report huge amounts of data. Compliance audits and e-discovery requests are a regular occurrence. However, traditional file transfer solutions frequently fail to meet audit deadlines when aggregating large data across remote branches and datacenters resulting in costly fines. Aspera’s suite of solutions provides secure, high-speed speed archive & recall of large data no matter where it is stored. Robust administrative capabilities make it easy to manage, monitor and report the movement of highly regulated transaction, trading, credit, & customer data.

Financial Systems Recovery

Financial services customers and regulators have zero tolerance for lost financial data or outages to key systems such as ATMs, bank accounts and trading applications. Recent high profile exposures have resulted in hefty fines, reputational damage and customer attrition. Existing tools struggle when syncing terabytes of critical data across large geographies. As a result, firms invest in costly regional back-up facilities to maintain RPO & RTO targets. With Aspera Sync’s superfast global transfers, disaster recovery sites can be placed wherever is most cost effective. High-speed global data replication means crucial banking, trading, and other applications run uninterrupted during a disaster.

Digitizing Financial File Sharing

Financial institutions are digitizing document heavy business activities – such as lending, wealth & investment management, and M&A deals – to drive efficiency and improve the customer experience. Existing tools for sending & sharing files have limits on file size (e.g. email, SharePoint) and performance/reliability issues over long distance. Additionally, highly sensitive files (e.g. business financials, investment reports, etc) require robust security & admin. controls. Aspera Files provides a high-speed cloud, on-premises or hybrid solution for sharing large individual files or whole directories of files with bullet-proof security and complete user access control making the move to a paperless environment easy.

 

Ready to accelerate data Transfers at your financial institution?

Experience our secure, high-speed data and file transfer solutions for banks and financial services companies by contacting the Aspera sales team and requesting your free software evaluation today.

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PERFORMANCE CALCULATOR

“Aspera is now our approved standard for transferring content around the world."John Toal, Director, Post Production Content Security at Universal Pictures

“Not only does Aspera software offer excellent ease-of-use for our operators, its transport technology stands out as the emerging standard with a majority of our media partners.” Martin Brannigan, Head of Broadcast Operations at Sky Italia