Enabling Financial Institutions to Leverage Data Aggregation

Abstract

Coforge’ Data Aggregation Framework (DAF) is a scalable, flexible, and secure aggregation platform fully based on Open Source technologies for ingestion (Python), distribution (MarkLogic, MongoDB), and visualization (D3.js, Arcplan) of structured, semi structured, and unstructured data. The framework fuses external data to enrich a firm’s internal data and consists of a set of business and technical processes. DAF improvises risk exposure management and regulatory compliance capabilities of financial firms.

Our Solution

Integrated and enterprise data architecture with taxonomy and characteristics building capability is critical in reducing data aggregation and creating accurate reports. The challenge is to achieve adequate data quality in order to send data to the enterprise platform for accurate regulatory reporting.

Coforge’ data aggregation framework helps financial institutions meet regulatory requirements while maintaining the integrity of the current IT landscape. It is a market-ready platform that not only helps in compliance reporting, but also enables organizations to make investment-related decisions.

Figure 1: Data Aggregation Framework

We understand enterprise-wide data and infrastructure needs, and create a single version of truth of semi-structured and structured data aggregated from various sources. DAF also helps financial organizations kick-start their journey to achieve a matured risk data aggregation state with on-demand customized dashboards and reports.

Key Features

• Web crawler for data acquisition and hourly data refresh from Open Exchange Rates of Worldwide Foreign Exchange (FX) data
• Fuses structured and semi-structured data
• Entity and security cross-referencing capabilities across industry standard identifiers such as Legal Entity Identifier (LEI)
• Comprehensive data differences identifiers (field level)
• Symantec triples to aggregate hierarchical data
• Data visualization to analyze exposure levels
• Accessible from all major mobility platforms

Delivering More Value

• More Compliance: DAF meets risk data aggregation and risk reporting principles of BCBS 239
• More Enablement: We combine semi-structured data with structured data for aggregation, reporting, and distribution. The framework sources, cleanses, and integrates entity data and provides a holistic view of risk exposure across industry sectors (Global Industry Classification Standard) and geographic dimensions. It also measures risk exposure to entities.
• More Savings: The implementation of DAF helps us reduce the total cost of ownership and time-to-market of your products.
• More Satisfaction: We enable data to be your key differentiator and asset in the marketplace.