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What it does: MarkLogic’s database was designed for unstructured data, like documents, video or any data that doesn’t fit nicely into rows and columns, so customers can build applications without knowing exactly what the data might look like or how they will be formatted.
How it’s been used: JPMorgan Chase & Co. uses MarkLogic at the heart of its derivatives processing. Derivatives have more complexity than a ticker symbol and a price, so don’t play well with databases designed for structured data.
Before bringing in MarkLogic, the bank modeled a dozen or so databases—a separate one to serve each of the functions, such as settlement, affirmations, matching and accounting, that it uses the data for. It also had to make the same number of copies of the data to service each database.
Via Armando Reis, Dominic Spitz
Here are the top uses for MarkLogic in the financial services industry:
Risk Management and Post Trade Processing including
risk aggregation, reference data management and portfolio analysis.
Regulatory Compliance for Dodd-Frank Swap Reporting, FATCA Compliance, Know-Your Customer and Anti-Money Laudnering.
Customer On Boarding including Institutional Customer Onboarding
and Retail & Private Bank Customer Onboarding
Pre-Trade Analytics - Commodity Futures & Historical Tick Data Analysis
Customer Insight & Product Targeting in the Credit Card business lines, retail and private banks and corporate finance.
Research Management for both broker-dealer research and vendor research
Extending this futher into the insruance industry, Insurance Claims Management for P&C Claims and fraud analysis are both excellent applications for this technology.