FINANCIAL SERVICES

Investment Banking Case Study

Siren for Finance in Investment Banking

Tier 1 Wall Street Investment Bank reduces operational risk

Operational Intelligence enablement through the Siren Platform

“We are building central global business process telemetry across systems, applications, process workflow and transaction flow. Siren enables that global Investigative Intelligence across all these related domains faster than anything else we tried"

THE PROBLEM

Elevated Trading Operational Risk & Poor Resource Utilization

A Tier 1 Wall Street Investment Bank has 1000s of Applications running business critical trading processes with unknown interdependencies across applications. This leads to significant operational risk. Also it was believed there was a lot of resource inefficiencies and redundancies. This could not be confirmed but was suspected because there was a lack of detailed knowledge of the process resource utilization across the firm.

THE SOLUTION

Siren Operational Intelligence

Using the Siren Platform, the Bank implemented a knowledge graph of the dependencies across the applications. This was done by integrating the log files, application journals and trade data into a single repository across these applications. This covers Billions of records of logging on a daily basis.

THE OUTCOME

Greatly Reduced Operational Risk & Increased Efficiency

The Operational Risk is greatly reduced as the knock on impacts of problems in individual systems is easy to find and account for in an outage situation. Also 1000s of logs files are unified into a singular application monitoring solution to minimize risk of non-reporting of system outages. The Bank is able to plan efficiency upgrades on a structured basis knowing the potential outcomes before starting. This included process hardware optimizations, application retirements and application rewrites suggested by the knowledge graph. This system is now enabling Trade Operations and IT to collaborate and understand each others challenges much better than they have in the past. The knowledge graph is also acting as a source of Data for Trade idea generation for the firm.

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