5 Reasons To Deploy WekaFS™ for High- Velocity Analytics in Financial Services

5 Reasons To Deploy WekaFS™ for High- Velocity Analytics in Financial Services

Weka
Published by: Research Desk Released: Mar 17, 2022

Financial Services institutions, including wealth management, insurance, and credit card companies, retail banks, and investment brokerages, are leveraging new technologies and algorithms to gain competitive advantage.

Financial technology (Fintech) allows companies to differentiate their service offerings from the competition and attract new investments. Computers are superior to humans in analyzing vast amounts of data for better investment strategies and risk mitigation. The companies that can run more complex models with more data faster than the competition are the winners.

To survive and thrive, Fintech providers are moving to machine learning and simulation-based models to gain deeper insights at a faster rate. The winners are adopting modern infrastructure and the cloud for improved performance, simplicity, agility, scalability, and data security. However, even during this transformation, they must maintain business continuity, leverage legacy infrastructures for a lower total cost of ownership, and ensure that customer data is protected from cybersecurity risks, breaches, identity theft, and fraud. This is where WekaFS (Weka) comes in with its record-breaking performance and scalability

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