Nadeem Gulzar talks with John Furrier & Dave Vellante at DataWorks 2017 at the International Congress Center München in Munich Germany.
#DWS17 #theCUBE
https://siliconangle.com/2017/04/06/bank-welcomes-disruption-fintech-hadoop-dws17/
150-year-old bank welcomes disruption with fintech and Hadoop
You might think that a bank founded in 1871 would fear change; banks and financial service businesses are historically big on tradition and adverse to change. Financial technology (also known as fintech) startups are causing disruption in the banking and finance services space in a big way, and many organizations fear this new dynamic. But when asked about fintech, Nadeem Gulzar (pictured), head of advanced analytics and architecture at Danske Bank, has a quite different answer.
“From my point of view, [they’re] awesome! These guys are pushing us; remember, we’re a 150-year-old bank, and sometimes we do tend to pat [ourselves] on the back and say, ’OK, this is going good.’ These guys are coming in and giving some competition, and we love it,” he said.
Gulzar sat down with John Furrier (@furrier) and Dave Vellante (@dvellante), co-hosts of theCUBE, SiliconANGLE Media’s mobile live streaming studio, during the DataWorks Summit in Munich, Germany, to discuss not only his enthusiasm for fintech, but also about how Apache Hadoop’s open source, big data management platform became a game-changer and the importance of data provenance for upcoming EU regulations. (Disclosure below.)
Managing vast amounts of banking and customer data
While Hadoop provides the basic infrastructure, by adding advanced analytics frameworks, Danske Bank has been able to dig into its own core transaction data, which it had not been able to do for decades. This is quite powerful and has become a game changer for the bank Gulzar stated.
Another consideration for the bank is the amount of data that is streaming in, continuously. “When customers interact with our web or mobile solution, the amount of data generated is humongous, so no way on earth you can think about batches anymore,” said Gulzar.
He explained that it’s all about streaming the data all the way in, doing real-time analytics on the data and then producing results for the bank so that it can serve its clientele better.
With the EU’s General Data Protection Regulation going into effect in May 2018, Gulzar said that it’s important to have full mapping and control of all the data coming in. Additionally, the bank will need to generate metadata and have full data lineage, knowing where the data came from and how it’s interconnected, he said.
Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of DataWorks Summit 2017 EU. (*Disclosure: TheCUBE is a paid media partner at DataWorks. The conference sponsor, Hortonworks, does not have editorial oversight of content on theCUBE or SiliconANGLE.)
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
DataWorks Summit Europe 2017 | Munich. If you don’t think you received an email check your
spam folder.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Register For DataWorks Summit Europe 2017 | Munich
Please fill out the information below. You will recieve an email with a verification link confirming your registration. Click the link to automatically sign into the site.
You’re almost there!
We just sent you a verification email. Please click the verification button in the email. Once your email address is verified, you will have full access to all event content for DataWorks Summit Europe 2017 | Munich.
I want my badge and interests to be visible to all attendees.
Checking this box will display your presense on the attendees list, view your profile and allow other attendees to contact you via 1-1 chat. Read the Privacy Policy. At any time, you can choose to disable this preference.
Select your Interests!
add
Upload your photo
Uploading..
OR
Connect via Twitter
Connect via Linkedin
EDIT PASSWORD
Share
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
DataWorks Summit Europe 2017 | Munich. If you don’t think you received an email check your
spam folder.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Sign in to gain access to DataWorks Summit Europe 2017 | Munich
Please sign in with LinkedIn to continue to DataWorks Summit Europe 2017 | Munich. Signing in with LinkedIn ensures a professional environment.
Are you sure you want to remove access rights for this user?
Details
Manage Access
email address
Community Invitation
Nadeem Gulzar | DataWorks Summit Europe 2017
Nadeem Gulzar talks with John Furrier & Dave Vellante at DataWorks 2017 at the International Congress Center München in Munich Germany.
#DWS17 #theCUBE
https://siliconangle.com/2017/04/06/bank-welcomes-disruption-fintech-hadoop-dws17/
150-year-old bank welcomes disruption with fintech and Hadoop
You might think that a bank founded in 1871 would fear change; banks and financial service businesses are historically big on tradition and adverse to change. Financial technology (also known as fintech) startups are causing disruption in the banking and finance services space in a big way, and many organizations fear this new dynamic. But when asked about fintech, Nadeem Gulzar (pictured), head of advanced analytics and architecture at Danske Bank, has a quite different answer.
“From my point of view, [they’re] awesome! These guys are pushing us; remember, we’re a 150-year-old bank, and sometimes we do tend to pat [ourselves] on the back and say, ’OK, this is going good.’ These guys are coming in and giving some competition, and we love it,” he said.
Gulzar sat down with John Furrier (@furrier) and Dave Vellante (@dvellante), co-hosts of theCUBE, SiliconANGLE Media’s mobile live streaming studio, during the DataWorks Summit in Munich, Germany, to discuss not only his enthusiasm for fintech, but also about how Apache Hadoop’s open source, big data management platform became a game-changer and the importance of data provenance for upcoming EU regulations. (Disclosure below.)
Managing vast amounts of banking and customer data
While Hadoop provides the basic infrastructure, by adding advanced analytics frameworks, Danske Bank has been able to dig into its own core transaction data, which it had not been able to do for decades. This is quite powerful and has become a game changer for the bank Gulzar stated.
Another consideration for the bank is the amount of data that is streaming in, continuously. “When customers interact with our web or mobile solution, the amount of data generated is humongous, so no way on earth you can think about batches anymore,” said Gulzar.
He explained that it’s all about streaming the data all the way in, doing real-time analytics on the data and then producing results for the bank so that it can serve its clientele better.
With the EU’s General Data Protection Regulation going into effect in May 2018, Gulzar said that it’s important to have full mapping and control of all the data coming in. Additionally, the bank will need to generate metadata and have full data lineage, knowing where the data came from and how it’s interconnected, he said.
Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of DataWorks Summit 2017 EU. (*Disclosure: TheCUBE is a paid media partner at DataWorks. The conference sponsor, Hortonworks, does not have editorial oversight of content on theCUBE or SiliconANGLE.)
