ABN Amro Brings Vast Amounts of Data into a Central Operational Trade Store
Industries:
Financial ServicesProducts:
MarkLogicChallenge
- Infrastructure agility to meet changing internal demands and external regulations
- Trade data reporting
- Compliance for regulations today and new regulations in the future
Solution
- Operational Data Hub
- Regulatory Compliance
- Trade Store
Result
- Faster Development Times
- Minimized Risk
Full Story
Challenge
ABN AMRO aggregates vast amounts of unstructured and structured trade data into one central operational trade store. With a consistent, transparent record of every order and trade event, the financial group complies with internal and external reporting requirements in a fast and flexible manner, today and tomorrow.
We need the ability to respond quickly to changing regulatory requirements. We chose MarkLogic because trade data is notoriously difficult to handle in relational databases. We found the breadth of MarkLogic’s multi-model database and associated features, such as security and ACID transactions, to be compelling.
Jaap Boersma
Principal Architect for Capital Markets Solutions at ABN Amro Bank N.V.
Solution
Regulators increasingly want banks to be able to reconstruct trades and retrace data lineage. By building its trade store on MarkLogic, ABN AMRO can more easily comply with existing and forthcoming financial regulations. It now also has a fully-integrated, consolidated view of data to provide a single source of truth for reporting. Additionally, MarkLogic’s Bitemporal capability will allow ABN AMRO to minimize risk through “tech time travel” — timestamping and rewinding trades.
Result
Minimized Risk
With a consistent, transparent record of every order and trade event, ABN AMRO is able to comply with internal and external reporting requirements in a fast and flexible manner.
Plan for Future Growth
By searching and analyzing all of its trade data in new ways, ABN AMRO can see future benefits such as discovering trends in how trading occurs.
Rapid Time to Market
In order to meet internal expectations and external requirements like MiFID II, ABN AMRO had aggressive deadlines. With MarkLogic’s help, the organization beat those deadlines.