Smart Finance

Smart Finance Automated Transactions

Cryptocurrency. Blockchain. Cashless transactions are king. And edge computing is highly applicable in the automation of transaction and billing processes in the financial world where low latency is required. Consumers participate in fully automated, intelligent processes to acquire goods and services. For example: Filling up the tank at a gas station is completely automated, including payment. Conditions and results are completely programmed, and as long as the sensors are present for sending and receiving data, the desired result occurs. The data involved in these transactions doesn’t need to go to a cloud – edge data centers located nearby guarantee low latency and real-time data analysis. The physical proximity of an edge data center also increases real-time data availability.

Big Data and Artificial Intelligence

Businesses in the financial sector have been using artificial intelligence (AI) for several years to design their processes more efficiently, understand their customers better and improve the customer experience. The foundation of this is big data and the knowledge gained about the customer base through the extraction, aggregation, and processing via analytics tools.

Blockchain

Developments like cloud computing, the Internet of Things or software-defined networks enable businesses to innovate quickly, but also puts them at risk for new security threats. Banking Trojans, malware, ransomware, and hacking attacks on financial institutions are steadily growing. Because it is a decentralized data bank, blockchain is an important technology for cyber security.

Customer reference: From racks to a financial blockchain platform – all from one supplier

Challenge:

Bank-certified hardware from Germany which is readily scalable and offers all the benefits of a cloud-native application.
Just a few clicks should suffice to pass a large number of invoices to factoring at once.
Fast DLT connection.

Solution from iNNOVO and Rittal:

Cloud-native hardware is made available at distributed locations in the iNNOVO Core data centre in Frankfurt.
On the basis of Kubernetes and Openstack, it is possible to provide BaFincertified nodes which are scalable at the press of a button (BaFin = German Federal Financial Supervisory Authority).