The Power of Personalization: Driving Digital Banking Success
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Delivering the real-time future of financial services
Financial services firms are undergoing massive digital disruption, and are modernizing their applications to provide superior customer experience, better decision-making, and improved resilience. Redis Enterprise provides the modern data models required to successfully deliver real-time financial services, while enabling organizations to remain secure and compliant.
Every facet of the finance industry is being digitized—internet giants and fintech startups have disrupted traditional financial institutions with technology platforms that deliver more responsive and customer-focused financial services.
In order to stay relevant, your organization needs a technology platform of its own. According to Gartner, one-third of financial services CIOs identified digital as their top business priority for 2019, and nine out of ten financial institutions say they either have a digital transformation strategy or are developing one, according to a survey by BDO.
Your systems need a new set of capabilities to meet the demands of today’s financial services customers: truly real-time performance at scale, modern data models, and enterprise-grade security and compliance in any environment.
Detecting fraud is becoming more difficult as applications and customer data become increasingly distributed. Redis Enterprise enables financial services firms to examine patterns across transaction histories, perform geospatial analysis, and check transactions against known fraudulent patterns with probabilistic data structures.
Redis Enterprise provides the high write throughput and multiple data models needed to keep customer profiles updated in real time for dynamic pricing, credit-risk analysis, targeted advertising, credit-card promotions, and more.
Caching decreases application response times by serving frequently needed data from an in-memory cache instead of making calls to a database with network-attached persistent storage. Redis Enterprise provides enterprise-grade caching with expiration and eviction policies to efficiently manage cache objects, global distribution with Active-Active replication, and virtually unlimited scale.
Storing user session data enables applications to remember user identity, login credentials, and personalized information, while making sure that application response times are as fast as possible for users. Redis Enterprise speeds session management with support for extremely large datasets using Redis on Flash and data-persistence options that don’t impact performance.
Redis modules, such as RediSearch, RedisGraph, RedisBloom, and others can be readily applied to use cases like fraud detection, personalization, transaction scoring, and more.
Leveraging Redis Enterprise’s Active-Active database replication with conflict-free replicated data types (CRDTs) enables financial services applications to gracefully handle simultaneous updates from multiple geographic locations, powering use cases like fraud detection, rate limiting, and personalization on a global scale without compromising latency or availability.
Redis Enterprise ensures production data is isolated from administrative access and offers multi-layer security for access-control, authentication, authorization, and encryption (including data in transit and data at rest).
Redis Enterprise uses a shared-nothing cluster architecture and is fault tolerant at all levels—with automated failover at the process level, for individual nodes, and even across infrastructure availability zones—as well as tunable persistence and disaster recovery.
Redis Enterprise is available on all of the major cloud providers as a managed service or as software, provides automation and support for common operational tasks, and integrates with the platforms underpinning modern software architectures, such as containers and Kubernetes.
Efficiently scaling database performance is critical for real-time financial services applications. Redis Enterprise scales linearly and with zero downtime to provide more resource-efficient databases that reliably deliver high throughput and sub-millisecond latency.
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