Neoflex Reporting Big Data Edition: new speed of reporting
Neoflex Reporting Big Data Edition enables customers possessing large volumes of heterogeneous data to form regulatory reporting in accordance with the strict requirements of the Central Bank of the Russian Federation. High speed performance in the new version of the system is reached with the use of Big Data stack technology. HDFS (Hadoop) is used to store detailed data, while Spark, which supports distributed in-memory calculations, is used to process data.
Optimization of the total cost of ownership (TCO) for Neoflex Reporting Big Data Edition is achieved with the open source code and, therefore, with a substantial saving on paid DBMS and ETL instruments. Besides, capabilities of Hadoop and Spark in parallel data processing ensure high reliability and fault tolerance of the system with substantially lower costs of server equipment. In addition, this technology enables virtually unlimited and inexpensive horizontally scaling of system performance.
High speed of algorithm setup and data processing during the system implementation is ensured with the use of embedded visual development environment Neoflex Datagram. Implemented in the Model Driven Architecture paradigm, Neoflex Datagram ensures visual design of data transformation and automatic generation of Scala/Spark code for execution on the Hadoop cluster. As consequence, the use of Neoflex Datagram provides a substantial lowering of requirements in developers’ skills and, accordingly, a reduction of the system implementation cost.
The new interface combines operational convenience with spreadsheets and the computing power of industrial platforms, and provides business users with the ability to independently create new reports and interpretations, as well as to setup calculation algorithms and execute them without IT specialists involved. Moreover, differentiation of user access to reporting data, as well as total logging of all actions is also ensured.
Neoflex Reporting Big Data Edition smoothly fits in the IT landscape of any bank. Two basic versions of the system implementation are used: one with its own detailed data tier and one based on the existing data storage.
“As of today, Neoflex Reporting is used in more than 20 major Russian financial organizations. The system has proved itself in the preparation of mandatory and other types of reporting. Implementation of Neoflex Reporting Big Data Edition enables any client to achieve not only efficient and speedy reporting preparation but also Data Lake with financial information which can be used for solution of various analytical banking tasks, including those for analysis of unstructured information. We monitor development of new technologies and aim to use the best developments in the IT market in our solutions in order to benefit our customers”, says Elena Lukutina, partner, Neoflex director for operating activities and technological development.