MapR's New Approach to Financial Crimes
SAN JOSE, CA: MapR Technologies debuts the immediate availability of MapR Risk Management Quick Start Solution for financial services to qualify and manage risk. MapR Technologies, provider of Converged Data Platform—offers a best-in-class risk management solution for companies that increasingly use data science, machine learning, and advanced analytics to identify and quantify risk in order to defend advanced persistent threats.
The firm’s Risk Management Quick Start Solution is a data science-led product and service offering that addresses two main categories of risk: fraud detection and anti-money laundering. The focus on fraud detection uses predictive analytics model that utilizes current and historical facts for assessment of risk involved in financial services and also to detect, identify and avoid loss from fraud and cybercrime. “Our M7 Enterprise Database Edition enables continuous real-time operations and handles high-volume and high-velocity of database workloads with batch analytical tasks,” says Jack Norris, Senior VP, Data and Applications, MapR Technologies.
The other focus is on identifying money laundering using anomaly detection that employs segmenting customers’ normal behaviors and uses statistical techniques to determine deviation of a particular transaction from the corresponding group behavior. This risk-based approach monitors the transaction process to combat the entrance of illegal money into the financial systems.
“MapR data scientists have worked with some of the world’s largest banks, brokerages and fintech companies,” says Dave Jespersen, Vice President of Worldwide Services, MapR Technologies. “With this new Risk Management Quick Start solution, we have created a proven, repeatable and demonstrable approach to identifying fraud and other illicit activities using the scale and reliability of the MapR Converged Data Platform.”
MapR Launches Avant-garde Converge Partners Global Program
By Chris Tjotjos, VP, Cisco Solutions Practice, Black Box...
By Laura Jackson, Sr. Manager-Risk Management, ABS Consulting
By Jason Cradit, VP of Information Systems, Willbros Group
By Steve Garske, Ph.D., Senior Vice President & Chief...
By Roman Trakhtenberg, CEO, Luxoft
By Renee P Wynn, CIO, NASA
By Mike Morris, CIO, Legends
By Louis Carr, Jr., CIO, Clark County
By Andrew Macaulay, CTO, Topgolf Entertainment Group
By Dominic Casserley, President and Deputy CEO, Willis...
By Dave Nelson, SVP-Portfolio Lead, Avanade, Inc.
By Michael Cross, SVP & CIO, CommScope Holding Company Inc.
By Pauly Comtois, VP DevOps, Hearst Business Media
By Dan Adam, CIO, Extreme Networks
By Matt Schlabig, CIO, Worthington Industries
By David Tamayo, CIO, DCS Corporation
By Scott Cardenas, CIO, City and County of Denver
By Marc Kermisch, VP & CIO, Red Wing Shoe Co.
By Brian Drozdowicz, VP, Digital Services, Siemens...
By Les Ottolenghi, EVP and CIO, Caesars Entertainment