Bankers Voice Scepticism Over New Event Processing Technologies
Thu, 29 Nov 2007 03:06:23 +0000
This week I completed a*presentation on complex event processing at Wealth Management Asia*2007*where I had a chance to field some tough questions from risk management experts working for some of the top banks in the region.
In particular, one of the meeting attendees*voiced*strong scepticism over emerging event processing technologies.** The basis for his scepticism was,*in his words, that the other “65 systems” the bank had deployed to*detect*fraud and money laundering (AML) simply did not work.* In particular, he referenced Mantas as one of the expensive systems that did not meet the banks requirements.*
My reply was that one of the advantages of emerging event processing platforms is the “white box” ability to add new*rules, or other analytics,*”on the fly” without the need to go back to the vendor for another expensive upgrade.*
Our friend the banker also mentioned the*huge problem of “garbage-in, garbage-out”*where*the data for real-time analytics*is not “clean enough” to provide*confidence in the processing results.*
I replied that this is*always the problem with stand-alone detection-oriented systems that do not integrate*with each other, for example his “65 systems problem.”*** Event processing solutions*must be*based on standards-based distributed communications, for example a high speed messaging backbone or distributed object caching architecture, so enterprises may correlate the output of different detection platforms to increase confidence.** Increasing confidence, in this case,*means lowering false alarms while, at the same time, increasing detection sensitivity.
As I have learned over a long career consulting, the enemy of the right approach to solving a critical*IT problem is the trail of previous failed solutions.** In this case, a long history of expensive systems that do not work as promised is creating scepticism over the benefits of CEP.
01-20-2009 05:51 AM
Interesting to see the huge interest in Cloud Computing. David Luckham’s complexevents.com just referenced one of several recent Infoworld articles and blogs that attempt to define the term. Another compares the buzz to past excitements - remember Application Service... (0 Replies)