Transforming Banking with Apache Kafka

11.09.2020

Back in July in partnership with Confluent, WHISHWORKS held a webinar discussing the transformation being caused by event-streaming and event-driven architectures in modern banking. In this blog (and infographic) we summarise the key takeaways from that webinar, showcasing how forward-looking banks are getting ahead of the curve with real-time streaming.

When it comes to banking, event streaming and event-driven architecture is transforming the way banks operate on a daily basis. In the table below, we examine these transformations:

Payment Processing

WITHOUT EVENT STREAMING WITH EVENT STREAMING
  • Batch orientated with settlements happening T+1 or T+2
  • Legacy MQ technologies that are difficult and costly to scale 
  • Real-time payment processing
  • High throughput that easily scales on a small hardware footprint
  • De-coupled producers and consumers
   

Retail Banking

WITHOUT EVENT STREAMING WITH EVENT STREAMING
  • Nightly updated account balance
  • Batch fraud checks
  • Limited view of the customer
  • Real-time account updates
  • Real-time credit card fraud alerts
  • 360 / Omni channel view of the customer
   

Capital Markets

WITHOUT EVENT STREAMING WITH EVENT STREAMING
  • Batch oriented compliance reporting (OATS, FRTB)
  • Batch view of risk
  • Spreadsheet-driven trading
  • Manual clearing and settlements
  • The ability to aggregate disparate risk systems to get a consolidated intra-day view of market & credit risk
  • Real-time pricing using stream processing
  • Integrated and automated clearing & settlement
   

Click on the image below to open the full infographic with the most successful use cases in banking: 

 

Kafka in banking infographic copy

 

If you would like to find out how to become a data-driven organisation with event streaming, Kafka and Confluent, then give us a call or email us at marketing@whishworks.com.

Other useful links:

What is Kafka? The Top 5 things you should know

WHISHWORKS Expert Kafka Services

WHISHWORKS Confluent Services

 

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