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MapR Technologies: Converged Platform to Harness the Power of Data

John Schroeder, CEO and Co-Founder, MapR TechnologiesJohn Schroeder, CEO and Co-Founder
The invention of smart cards has revolutionized financial service sector with the growth of modern technologies, integrating software, and encompassing discrete systems in the banking operations. However, along with the technological innovations, banks are challenged with growing regulations, compliance requirements, issues related to risk management and fraud detection. Therefore, the financial institutions require a new approach toward risk management and deeper insights into the threat environment to effectively mitigate vulnerabilities. To accomplish this, financial firms are turning to big data technologies such as Hadoop to target their marketing campaigns. MapR Technologies, headquartered at San Jose, CA, offers its converged data platform to help financial services firms to manage risk and stay competitive. The converged data platform integrates the power of Hadoop and Spark, an open source computing framework for large scale data processing through a single management interface.

Hadoop’s ecosystem mainly includes MapReduce, the Hadoop Distributed File System (HDFS), which eliminates data silos, through convergence of open source, enterprise storage, NoSQL, and event streams with unparalleled performance, data protection, disaster recovery, and multi-tenancy features. It helps in the storage of new data resources and combines large data set for interactive, real-time analysis and gaining deeper insights on ways to improve operational margins and protect against one-time events that might cause catastrophic losses. Large retail banks leverage Apache Hadoop due to the influx of applications each day for new checking and savings account. MapR platform analyzes all incoming transactions against individual and aggregate purchasing histories and takes appropriate action if the activity falls outside the confidence level of normal behavior, thereby preventing security attacks and fraud.

With MapR converged platform, banks can also meet their regulatory compliance objectives to avoid steep fines by establishing an enterprise data hub that holds within itself the relevant compliance data which can be accessed securely.


We look forward to helping more customers benefit from the power of Hadoop to increase revenues, lower costs, and mitigate risk


In addition to this, the platform offers the ability to calculate client and counterparty risk more precisely with credit value adjustments, as increased regulations have pressurized banks to demonstrate risk and analysis to auditors. Since advanced machine learning drives leading credit card companies, MapR provides new products, services, and techniques for high-speed data access, fraud detection, and flexible customer service thereby significantly resulting in Total Cost of Ownership (TCO). "Google has a long-standing commitment to Hadoop, making Google Capital an ideal investor for MapR. This investment recognizes our customers’ rapid adoption, their tremendous results, ROI and also the capital efficiency of our business model,” says John Schroeder, CEO and Co-founder of MapR Technologies. Banks also leverage this platform to optimize customer experience via social media or product review sites, enabling them to quickly respond to negative or positive comments.

Over the years, the company has worked diligently to achieve great customer relationships, solving some of the most complex business challenges that clients face today. Zions Bank, which operates through over 500 offices and 600 ATMs in US, relies on MapR for its security features, ease of management, superior performance capabilities, and better ROI. “In the past, our existing tools took almost a day to run a report and get the result against a particular data that we need. With Hadoop we can arrive at the results in less than 20 minutes,” says Michael Fowkes, Senior Vice President of Data Science and Security Analytics, Zions Bank.

Looking ahead, MapR Technologies aims to keep up the key requirements of Hadoop adoption and success through ease of use, availability, dependability and high performance. “As we continue to expand, we look forward to helping more customers benefit from the power of Hadoop to increase revenues, lower costs, and mitigate risk,” concludes Schroeder.