Fintech Forward Newsletter - Issue 17

While the use of real-time data in financial markets has long been indispensable, real-time data processing is fast becoming essential in empowering all aspects of our digital world. Life happens in real time and over the last few decades, technology has increasingly allowed us to capture and make use of data closer to its creation.  

Frameworks like Apache Flink, and data processing specialists like Ververica, are increasingly enabling organizations to unlock and operationalize real-time data. As we learn from Ververica’s chief field technology officer, Ben Gamble, in this week’s newsletter, the key use cases for stream processing technology in financial services include fraud and anomaly detection, real-time payments, but also helping banks and financial institutions to gain a better understanding of their customers’ financial behavior.  

Real time can often mean capturing and acting upon data as soon as you need to. In other words, not every use case requires immediate analysis or action. However, as we learn from a recent report by PYMNTS, banks are under pressure to speed up real-time payment adoption from enterprise clients.  

The future of real-time technologies and use cases in financial services will also by greatly affected by AI, and vice versa. That’s why we also look at how bookkeeping is set to evolve as real-time financial insights are enabled.