Banks Boost Infrastructure to Tackle GDPR

By Jeff Hong

June 13, 2018

As banks become more digital and data-driven, their IT managers are challenged with fast growing data volumes and lines-of-businesses’ (LoBs’) seemingly limitless appetite for analytics. Becoming data-driven requires: easy, yet managed access to data no matter where it resides; and timely analysis of structured and unstructured data with economy-of-scale.

At the same time, IT managers are implementing multiple costly, and complex regulations e.g. General Data Protection Regulation1 (GDPR) and Fundamental Review of Trading Book (FRTB). FRTB alone is expected to increase capital reserve requirements 40%, reducing money for other uses. Regulations can be contradictory in key areas as in the case of GDPR and Know Your Customer (KYC) on the topic of data retention.

Firms delaying compliance risk significant fines. A 2017 global survey1 of 500 firms identified Financial Services industry as one likely facing the greatest scrutiny for GDPR compliance. The assessed penalty under GDPR may be equal to 4% of a bank’s annual revenue or 20 million Euros. To start, many banks are:

  • Adopting a more standardized, documented approach to data management
  • Hiring a Chief Data Officer to sort out data policies i.e. where data resides, how data can be used, and who can access the data and for how long
  • Replacing their aging servers and storage devices to provide greater capacity more efficiently

However continually adding more hardware on-premises is an increasingly unfeasible approach to capacity management given many bank’s limited IT space, budget, and manpower. Public cloud is an option.   However, IT managers are still proceeding down this path with caution due to proprietary, regulatory, and/or competitive reasons. Select applications and data will remain behind the datacenter’s wall or co-located at exchanges for the foreseeable future.

IT managers are adopting more agile, open technologies that can scale out their analytics by optimizing their existing IT resources, and that can work on a hybrid cloud environment. They include:

  • A software defined infrastructure with disaggregated compute and storage to provide greater agility and efficiency for hybrid cloud and/or Hadoop-based environments
  • Virtualization, high performance multi-tenant grid computing, and secure cloud bursting to deliver scalability and cost savings for compute-heavy risk simulations
  • Multi-tier storage systems, data lakes, high performance file/object managers, data-aware job schedulers, and life-cycle management tools to optimize data movement (minimize latency impact), access, and storage choice
  • Open frameworks and pre-integrated systems like respectively Apache Spark and IBM Systems’ PowerAI platform to accelerate innovation in IoT and machine learning analytics with less operating risky

To learn how IBM’s software defined approach can provide your stakeholders with the ability to access and manage data more efficiently, click here.

To learn how IBM simplifies and accelerates AI and data analytics, click here

  1. Beginning in May 2018­­, most financial firms must comply with General Data Protection Regulation (GDPR), as well as planning for the Fundamental Review of Trading Book (FRTB).
  • In a 2017 survey of 500 IT decision makers on GDPR, 41% of financial services firms participating in the survey expected greater costs and complexity. Satisfying right to erasure, maintaining records of processing activities and managing security of processing pose the top challenges to compliance. Src: One Year Out: Views on GDPR, VansonBourne
  • For FRTB, the new Expected Shortfall (ES) calculation rule requires a more standardized approach to modeling and calculations using more comprehensive data sets. Banks will need more capacity, throughput, and scalability, as well as faster I/O for simulations that may involve hundreds of thousands of files and millions of jobs.
Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

Nvidia Debuts Turing Architecture, Focusing on Real-Time Ray Tracing

August 16, 2018

From the SIGGRAPH professional graphics conference in Vancouver this week, Nvidia CEO Jensen Huang unveiled Turing, the company's next-gen GPU platform that introduces new RT Cores to accelerate ray tracing and new Tenso Read more…

By Tiffany Trader

HPC Coding: The Power of L(o)osing Control

August 16, 2018

Exascale roadmaps, exascale projects and exascale lobbyists ask, on-again-off-again, for a fundamental rewrite of major code building blocks. Otherwise, so they claim, codes will not scale up. Naturally, some exascale pr Read more…

By Tobias Weinzierl

STAQ(ing) the Quantum Computing Deck

August 16, 2018

Quantum computers – at least for now – remain noisy. That’s another way of saying unreliable and in diverse ways that often depend on the specific quantum technology used. One idea is to mitigate noisiness and perh Read more…

By John Russell

HPE Extreme Performance Solutions

Introducing the First Integrated System Management Software for HPC Clusters from HPE

How do you manage your complex, growing cluster environments? Answer that big challenge with the new HPC cluster management solution: HPE Performance Cluster Manager. Read more…

IBM Accelerated Insights

Super Problem Solving

You might think that tackling the world’s toughest problems is a job only for superheroes, but at special places such as the Oak Ridge National Laboratory, supercomputers are the real heroes. Read more…

NREL ‘Eagle’ Supercomputer to Advance Energy Tech R&D

August 14, 2018

The U.S. Department of Energy (DOE) National Renewable Energy Laboratory (NREL) has contracted with Hewlett Packard Enterprise (HPE) for a new 8-petaflops (peak) supercomputer that will be used to advance early-stage R&a Read more…

By Tiffany Trader

STAQ(ing) the Quantum Computing Deck

August 16, 2018

Quantum computers – at least for now – remain noisy. That’s another way of saying unreliable and in diverse ways that often depend on the specific quantum Read more…

By John Russell

NREL ‘Eagle’ Supercomputer to Advance Energy Tech R&D

August 14, 2018

The U.S. Department of Energy (DOE) National Renewable Energy Laboratory (NREL) has contracted with Hewlett Packard Enterprise (HPE) for a new 8-petaflops (peak Read more…

By Tiffany Trader

CERN Project Sees Orders-of-Magnitude Speedup with AI Approach

August 14, 2018

An award-winning effort at CERN has demonstrated potential to significantly change how the physics based modeling and simulation communities view machine learni Read more…

By Rob Farber

Intel Announces Cooper Lake, Advances AI Strategy

August 9, 2018

Intel's chief datacenter exec Navin Shenoy kicked off the company's Data-Centric Innovation Summit Wednesday, the day-long program devoted to Intel's datacenter Read more…

By Tiffany Trader

SLATE Update: Making Math Libraries Exascale-ready

August 9, 2018

Practically-speaking, achieving exascale computing requires enabling HPC software to effectively use accelerators – mostly GPUs at present – and that remain Read more…

By John Russell

Summertime in Washington: Some Unexpected Advanced Computing News

August 8, 2018

Summertime in Washington DC is known for its heat and humidity. That is why most people get away to either the mountains or the seashore and things slow down. H Read more…

By Alex R. Larzelere

NSF Invests $15 Million in Quantum STAQ

August 7, 2018

Quantum computing development is in full ascent as global backers aim to transcend the limitations of classical computing by leveraging the magical-seeming prop Read more…

By Tiffany Trader

By the Numbers: Cray Would Like Exascale to Be the Icing on the Cake

August 1, 2018

On its earnings call held for investors yesterday, Cray gave an accounting for its latest quarterly financials, offered future guidance and provided an update o Read more…

By Tiffany Trader

Leading Solution Providers

SC17 Booth Video Tours Playlist

Altair @ SC17


AMD @ SC17


ASRock Rack @ SC17

ASRock Rack



DDN Storage @ SC17

DDN Storage

Huawei @ SC17


IBM @ SC17


IBM Power Systems @ SC17

IBM Power Systems

Intel @ SC17


Lenovo @ SC17


Mellanox Technologies @ SC17

Mellanox Technologies

Microsoft @ SC17


Penguin Computing @ SC17

Penguin Computing

Pure Storage @ SC17

Pure Storage

Supericro @ SC17


Tyan @ SC17


Univa @ SC17


  • arrow
  • Click Here for More Headlines
  • arrow
Do NOT follow this link or you will be banned from the site!
Share This