Big Blue Uses Big Data To Detect Cybercrime And Simplify Banking
Though certainly not the only technology company creating big data systems, IBM is one of the biggest and has several notable initiatives in this area, some of which are specifically applicable to banking.
Big Blue earlier this year announced a new service that uses big data analytics to bolster security intelligence. IBM Security Intelligence with Big Data is designed to detect the threats found in the ever-increasing amount of corporate data. The service combines real-time correlation for continuous insight, custom analytics across structured and unstructured data, and forensic capabilities for evidence gathering in a effort to detect malicious cybercrime.
The company also announced this year several advances to its PureSystems integrated systems, including one designed for big data. The PureData System for Analytics, which is powered by Netezza technology, features 50% greater data capacity per rack and is able to crunch data three times faster than in prior versions.
IBM also has initiated several partnerships with banks in this area, including a notable one with Citi. The New York-based bank will examine the use of deep content analysis and evidence-based learning capabilities found in the IBM Watson supercomputer to help advance customer interactions, as well as improve and simplify the banking experience.
IBM also is expanding its big data reach through acquisitions. The company has acquired six data analytics companies since February 2012 -- DemandTec, Emptoris, Star Analytics, StoredIQ, Varicent and Vivisimo -- a clear sign that its focus on trying to solve big data problems won't end anytime soon. -- Bryan Yurcan
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio