Title: Big Data and IoT: A Prime Opportunity for Banking Industry
Abstract: Banking industry is one of the most complex and sensitive industries that experience enormous changes in daily basis. Likemany others businesses, Big data is a serious problematic, data management and real time monitoring fraud issues also are even bigger challenges in this sector, due to the huge quantity of data, coming swiftly and rapidly from different devices in structured and unstructured formats, waiting for instantaneously treatments and decisions. Most financial institutions and banks try to innovate and diversify payment processes to make it more challenging and secure to improve their digital skills. Understand customer's behaviors also become a successful key factor in the market at the same time, that's why Internet of Things (IoT) can be the best solution to solve the issue of collecting and sharing data via internet among different "things", as devices and objects (Sensors, ATMs, POS, Smartphones, Computers, payment gateways (ecommerce), notebooks, etc.). The architectural and technical sides remain a problem, since conventional database management system and existing banking systems are not capable anymore to handle, store and process this massive volume of data with sufficient real time. This paper, discuss Hadoop Distributed File System and MapReduce, as an architecture for storing and retrieving information from massive volumes of datasets that we can collect via Internet from different objects based on the advantage and potential of Internet of things.
Publication Year: 2017
Publication Date: 2017-11-10
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
Cited By Count: 10
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