The number of changes banks face as a consequence of regulation are enormous. By way of example, as of December 2, 2013, 280 rule-making deadlines have been passed for the wide-ranging Dodd-Frank Act in the US, since it was signed off in July 2010. While few jurisdictions are as advanced in their own rule making, nevertheless regulators across the globe are asking for more granular levels of information, on a more frequent basis than ever before.
Such demands are testing the limits of database technology and so banks are examining new platforms that can accommodate and process data sets that could not be run through a traditional database, so-called ‘big data’ technology.
