Risk generation in Investment Banking has traditionally been carried out using Vendor based products such as task engines or has been developed bespoke for the Bank. The total cost of ownership involves the maintenance of infrastructure, vendor products integration and software engineering.
In this blog, we describe the use of a managed service, Google Dataflow, as a Risk Engine. The engineering complexity is maintained by Google requiring you to focus on the business problem with an Apache Beam implementation.
This is being readily adopted as a solution to solve the scale required by Banking institutions to cope with the increasing regulatory burden as a cost-effective solution.