A brief note, from William Fellows at 451, on HSBC’s use of Google Cloud’s big data/analytical services:
They have lot of data, that’s only growing:
6PB in 2014, 77PB in 2015 and 93PB in 2016
What they use it for:
In addition to anti-money-laundering workloads (identification and reducing false positives), it is also migrating other machine-learning workloads to GCP, including finance liquidity reporting (six hours to six minutes), risk analytics (raise compute utilization from 10% to actual units consumed), risk reporting and valuation services (rapid provisioning of compute power instead of on-premises grid).
As I highlighted over the weekend, it seems like incumbent banks are doing pretty well wtih all this digital disruption stuff.
Source: HSBC taps Google Compute Platform for Hadoop, is ‘cloud first’ for ML and big data
