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Build a modern platform for anti-money laundering 9.19.18

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In this webinar, you will learn how Cloudera and BAH riskCanvas can help you build a modern AML platform that reduces false positive rates, investigation costs, technology sprawl, and regulatory risk.

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Build a modern platform for anti-money laundering 9.19.18

  1. 1. © Cloudera, Inc. All rights reserved. Patrick Angeles Chief Solutions Architect Cloudera Joe Gillespie Founder & President Booz Allen’s riskCanvas LLC BUILD A MODERN PLATFORM FOR AML
  2. 2. © Cloudera, Inc. All rights reserved. 2© Cloudera, Inc. All rights reserved. AGENDA Build a Modern Platform for AML PART 1: Exploration of the Pain Points • 2018’s Biggest Challenges in Financial Crime • Solving Data Management Issues • Single View of the Customer, Transaction Monitoring Efficacy, etc. PART 2: Technical Deep Dive • Data Ingest • Data Processing • Data Exploration
  3. 3. © Cloudera, Inc. All rights reserved. 3© Cloudera, Inc. All rights reserved. THE BIGGEST PAIN POINTS An analysis of the biggest problems facing financial crimes programs There are several challenges for Financial Crimes programs in 2018 regardless of the institutions size. Many of Financial Crime’s biggest issues fall into one or more of the five categories: • Transaction Monitoring Efficacy • Investigation Efficiency • Single View of the Customer • KYC / CDD • Quantifying AML Risk THE ROOT OF ALL OF THESE PROBLEMS IS IN DATA MANAGEMENT
  4. 4. © Cloudera, Inc. All rights reserved. 4© Cloudera, Inc. All rights reserved. POLL #1 What are your top pain points related to data management for AML / Financial Crimes? 1. Data collection / storage / archival 2. Data quality 3. Data processing and aggregation 4. Data exploration / wrangling 5. Data lineage 6. Single view of customers and transactions 7. Other
  5. 5. © Cloudera, Inc. All rights reserved. 5© Cloudera, Inc. All rights reserved. UNLOCKING VALUE FROM DATA Data Management is a foundational capability $ SOLUTIONS DATA SCIENCE BI / ANALYTICS BIG DATA MANAGEMENT
  6. 6. © Cloudera, Inc. All rights reserved. 6© Cloudera, Inc. All rights reserved. CLOUDERA ENTERPRISE DATA HUB How is it different from legacy platforms? SEARCHHDFS TABLE NoSQL DATA ENGINEERING DATA WAREHOUSING DATA SCIENCE OTHER SECURITY GOVERNANCE WORKLOAD MANAGEMENT REPLICATION DATA CATALOG • Scalable, cost-effective and flexible storage • Management layer with comprehensive data lineage and security • Powerful solution for data aggregation • Fast analytics over petabytes of data • Fully integrated data science and machine learning • Extensible open platform
  7. 7. © Cloudera, Inc. All rights reserved. 7© Cloudera, Inc. All rights reserved. GLOBAL PAYMENT PROCESSOR • Cloudera Enterprise Data Hub used for archival • $30M in annual savings from EDW optimization • Identified $2 billion in potential annual fraud • New revenue streams from analytics offerings sold to merchants
  8. 8. © Cloudera, Inc. All rights reserved.8 © Cloudera, Inc. All rights reserved. BUILDING THE BANK OF THE FUTURE • Brings 1000s of data sources together at a fraction of the cost for cybersecurity, anti-money laundering, fraud analytics, and customer marketing • Drives 90% productivity improvement for analytics projects • Delivers 60% reduction in data management costs; 98% reduction in storage costs per TB
  9. 9. © Cloudera, Inc. All rights reserved.9 © Cloudera, Inc. All rights reserved. UNIFYING OPERATIONAL AND NETWORK DATA FOR NEW SERVICE INSIGHT • Increased customer ratings through improved service, identifying join time delays in real time • Identified 17X more fraud to help prevent costly fraudulent meetings • Delivered platform at 1/10 the cost of traditional data warehouse and BI environments
  10. 10. © Cloudera, Inc. All rights reserved. 10© Cloudera, Inc. All rights reserved. THE CHALLENGE Balance these needs DATA SCIENCE / ANALYTICS • Access to granular data • Flexibility • Preferred tools • Algorithms • Reproducible research • Path to production • Self-service access DATA MANAGEMENT • Security • Governance • Standards • Low maintenance • Low cost • Self-service access
  11. 11. © Cloudera, Inc. All rights reserved.11 © Cloudera, Inc. All rights reserved. CLOUDERAENTERPRISE+ DATA SCIENCE WORKBENCH Accelerate Machine Learning from Research to Production For data scientists • Experiment faster Use R, Python, or Scala with on-demand compute and secure EDH data access • Work together Share reproducible research with your whole team • Deploy with confidence Get to production repeatably and without recoding For IT professionals • Bring data science to the data Give your data science team more freedom while reducing the risk and cost of silos • Secure by default Leverage common security and governance across workloads • Run anywhere On-premises or in the cloud
  12. 12. © Cloudera, Inc. All rights reserved. 12© Cloudera, Inc. All rights reserved. CLOUDERA ENTERPRISE DATA HUB Scalability to handle large volumes and varieties of data Power to transform and aggregate data as needed Speed for interactive analytics Agility to enable data science and machine learning Security and Transparency for governance Open and extendable HDFS WORKLOAD S DATA SCIENCE ANALYTIC DATABASE OPERATIONA L DATABASE DATA ENGINEERIN G 3RD PARTY SERVICES COMMON SERVICES SECURITY GOVERNANCE WORKLOAD MANAGEMENT REPLICATION DATA CATALOG STORAGE KUDU Microsoft ADLS Amazon S3
  13. 13. © Cloudera, Inc. All rights reserved. 13© Cloudera, Inc. All rights reserved. FINANCIAL CRIMES Revisiting the challenges
  14. 14. © Cloudera, Inc. All rights reserved. 14© Cloudera, Inc. All rights reserved. POLL #2 What areas in your financial crimes program need the most improvement? 1. Transaction Monitoring 2. Investigation and Case Management 3. KYC / Customer Due Diligence 4. Single View of the Customer 5. Quantifying AML Risk 6. Other
  15. 15. © Cloudera, Inc. All rights reserved. 15© Cloudera, Inc. All rights reserved. RISKCANVAS Cloudera + riskCanvas Tesseract provide a robust platform for financial crime data management. With this platform in place, riskCanvas™ provides a suite of modules which target the remaining challenges for Financial Crimes Programs including: Network Analysis Case Management BehavioralAnomaly Detection EntityData Enrichment Real-Tim e D etection Investigation Acceleration Entity Risk-Scoring M achine Learning riskCanvas™ End-to-End FC Software Suite riskCanvasAnalyticsSuite riskCanvas Tesseract™ AML Data Management Platform Financial Crime Software Suite Built on Big Data
  16. 16. © Cloudera, Inc. All rights reserved. 16© Cloudera, Inc. All rights reserved. CLOUDERA ENTERPRISE + RISKCANVAS TESSERACT Rapid data ingestion and processing for FC data
  17. 17. © Cloudera, Inc. All rights reserved. 17© Cloudera, Inc. All rights reserved. TRANSACTION MONITORING DEMO
  18. 18. © Cloudera, Inc. All rights reserved. 18© Cloudera, Inc. All rights reserved. CASE MANAGEMENT DEMO
  19. 19. © Cloudera, Inc. All rights reserved. 19© Cloudera, Inc. All rights reserved. TECHNICAL DEEP DIVE
  20. 20. © Cloudera, Inc. All rights reserved. 20© Cloudera, Inc. All rights reserved. TECHNICAL DEEP DIVE: DATA INGEST Key Tenets of Successful Data Ingestion Raw = Better Use a Framework Land in HDFS Choose a Standard DataLakeStrategy AML DATA LAKE GOOD BEST ENT. DATA LAKE AML DATA LAKE KeyBenefitsofEnterpriseDataLakeStrategy… • ConsolidateCostofDataMigration • Consolidateeffortofdataingestionand upstreammaintenance • DataGovernance • Singlesourceoftruth
  21. 21. © Cloudera, Inc. All rights reserved. 21© Cloudera, Inc. All rights reserved. TECHNICAL DEEP DIVE: DATA PROCESSING riskCanvas’sTesseractEngine leveragesthesetoolsinitsautomatedprocessingpipelinetoproducecommon QFDsfor downstreamexploitation. CLOUDERA ENTERPRISE DATA HUB • MessageQueue • Streamprocessingsupport • Dataoperationresiliency • DistributedProcessing • Efficient, scalabledata transformation • Batch orStream • AI andML support • DistributedIndex • Sub-secondtext,geospatial,IP,& range queries • Statistics& aggregation • Unstructuredtext analysis • DistributedKey-Valuestore • Heterogeneousdatastructures • Sub-seconddataretrieval • Distributedcompute support • DataLineage • Auditabilityoftransformations • Datadictionary • ExtensiveAPIs • 3rd Partyintegrations • SOLR Alternative • RobustmanagementAPIs • Dynamic schemas • Distributed“brain” = more resilient Navigator
  22. 22. © Cloudera, Inc. All rights reserved. 22© Cloudera, Inc. All rights reserved. TECHNICAL DEEP DIVE: DATA EXPLORATION riskCanvas ™ Other Apps Customer Risk Scoring Transaction Monitoring Case Management Operational Applications Data Science & Analytics Data Science Workbench
  23. 23. © Cloudera, Inc. All rights reserved. 23© Cloudera, Inc. All rights reserved. CLOUDERA ENTERPRISE + RISKCANVAS riskCanvas DATA STORE SEARCHHDFS KUDU HBASE ENTITY ANALYTICS TRANSACTION MONITORING INVESTIGATIO N MANAGEMENT TESSERACT DATA WRANGLING ANALYTICS SUITE WORKLOAD S DATA SCIENCE ANALYTIC DATABASE OPERATIONA L DATABASE DATA ENGINEERIN G OTHER COMMON SERVICES SECURITY GOVERNANCE LIFECYCLE MANAGEMENT CONTROL PLANE DATA CATALOG LINEAGEENTITLEMENTS
  24. 24. © Cloudera, Inc. All rights reserved. 24© Cloudera, Inc. All rights reserved. THANK YOU Resources and Call to Action solutions@cloudera.com financialcrimes@bah.com Visit the Cloudera Solution Gallery to learn more about the solution: https://www.cloudera.com/solutions/gallery/booz-allen-hamilton-riskcanvas.html Visit the Booz Allen Hamilton solution page and request a demo: https://www.boozallen.com/riskcanvas

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