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October 16, 2017
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Leveraging Data to Make Decisions in Financial Services

The financial services industry encounters a variety of unique challenges with data. These companies not only need the ability to process huge amounts of data from traditional and non-traditional sources, but they also need to ensure the data is secure. This data is then used for actionable intelligence presenting huge business opportunities.

One example of a business leveraging data for real-time decision making is displayed through the story of ACI Worldwide.

ACI Worldwide (ACI) powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as thousands of leading merchants globally rely on ACI to execute $14 trillion each day in payments and securities. The company provides real-time, immediate payments capabilities and enables the industry’s most complete omni-channel payments experience.

Data is mission critical to ACI’s business, as they process huge volumes of data and need the ability to analyze it in real-time. Without the proper data, the company is unable to make informed decisions on how to best serve customers.

Big Data Solution

Hortonworks provides a key component of ACI’s Big Data solution, enabling the company to make real-time decisions about transactions flowing through its Universal Payments framework. Hortonworks Connected Platforms gave ACI more flexibility with how data flows and more consistency in how data is stored. This was done in a much more cost effective manner due to the open source model. The platform brought a cheaper cost of ownership and a reduction of cost per transaction for processing.

ACI’s Big Data initiative was sparked out of the opportunity of fraud detection. The company has several fraud products that collect information for financial institutions and merchants. All this data is captured, processed, and used to make real-time business decisions. This helps the company detect possible threats and ensure the data is secure.

Back in June, Ken Chenis, Chief Architect of ACI Worldwide, was named as one of our Data Heroes finalists. In our new video below, hear from Ken as he talks about ACI Worldwide’s journey with Big Data, and why the company chose Hortonworks.

Stay tuned for part two of the ACI Worldwide story coming on Wednesday.

For more examples of how Hortonworks is helping companies in the financial services industry, visit: https://hortonworks.com/solutions/financial-services/

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