Hewlett Packard Enterprise (HPE) has selected the RedPoint data management platform to power a new HPE Risk Data Aggregation and Reporting (RDAR) integrated solution targeted at the financial sector.
RedPoint Data Management will be the underlying platform to manage and cleanse structured and unstructured data as part of the HPE RDAR solution which is designed to help financial institutions comply with the guidelines of Basel Committee on Banking Supervision (BCBS) 239.
“Banking regulations at this level represents probably the world’s biggest data challenge,” said Dale Renner, CEO of RedPoint Global in a statement released by the vendor. “Each bank generates massive amounts of data coming from a large number of sources. All that data needs to be integrated, linked, and examined in order to ensure that the bank itself remains strong. Since these banks have already been designated as too-big-to-fail, their strength is core to the very survival of our economic system.”
Accrdoing to the companies, BCBS 239 necessitates a new way of managing data, away from fragmented silos and governance that now exists today. RDAR is an integrated solution framework for enablement of BCBS 239 compliance, aimed at helping to ensure compliance analytics and data management to BCBS 239 guidelines through standardized data taxonomies, provisions, data quality and distribution integration.
The RedPoint offering includes identity resolution, master key management, data parsing, international address standardization, data quality, aggregations, transformations, and automations, according to the vendor, provides a single application and interface that delivers these capabilities across traditional and Hadoop data environments.
To learn more about RedPoint Global, visit www.redpoint.net.
To learn more about HPE RDAR, go here.