October 2020 Summaries

Aerospike, a highly scalable key value database, is often deployed in real-time environments managing large data volumes. It integrates easily with other distributed software like Kafka and Spark for system coupling or analytics respectively. The article demonstrates how to use Aerospike Spark Connect by providing an end-to-end example using aerospike-ansible. The process involves setting up database and Spark clusters, loading data into Aerospike, and finally running queries on the data using Spark. This showcases the efficiency of Aerospike in handling large datasets and the ease of integration with other tools.

Aerospike Connect for Presto is a new open-source tool that enables running SQL queries on NoSQL databases like Aerospike. The Aerospike Presto Connector, currently in beta, translates data sources and types between the two systems. It requires an Aerospike server version >= 4.9 and a Presto server version >= 340. The connector supports parallel partition scans by Presto workers, schema inference, table definitions, and statistics collection for Presto's CBO (cost-based optimizer). It also leverages Presto predicate pushdowns to improve performance and reduce network traffic. The Aerospike Presto Connector is a part of the growing Aerospike ecosystem, which includes other tools like the Aerospike Spark connector.

Digital banking is transforming the traditional banking landscape with its customer-centric approach and lower operational costs. However, managing and processing data intelligently plays a crucial role in delivering personalized services and making strategic decisions. Legacy systems built on Relational Database Management Systems (RDBMS) are unsuitable for modern digital banking operations due to scalability issues, difficulty in handling unstructured data, and limited real-time processing capabilities. NoSQL databases offer an ideal solution for managing diverse data formats and structures, enabling faster access to complex data and facilitating horizontal scaling. Digital banks can leverage NoSQL platforms like Aerospike to maintain a secure transaction history at low costs, make decisions based on real-time business intelligence data, and ensure regulatory compliance.

The text discusses the use of probabilistic data structures, specifically HyperLogLog (HLL), for efficient storage and analysis of large datasets. It provides an example of a team working on testing and profiling new hardware, where they optimized their data analysis pipeline using HLL to estimate the number of unique elements in a set without needing to store each element individually. The text also explains how HLL can be used for online ad targeting by estimating the number of unique user profiles that match specific tags over a given period of time. It demonstrates various operations with HLL, such as adding elements, counting unique values, calculating unions and intersections of sets, and provides sample Python code for these operations. The conclusion emphasizes the efficiency and cost savings of using HLL for set cardinality estimation in various use cases.

The Aerospike Standup Vol. 15 is a bi-weekly newsletter for developers that covers blog posts, community questions, documentation updates, releases, and events from the Aerospike team. In this issue, new Ruby client releases are highlighted along with updated Data Types documentation. Additionally, FAQs on topics such as tcp dump impacting Aerospike transactions, data recovery from faulty disks during multi-node disk failure, benchmark throughput drops to 0 when a node is removed from an Aerospike cluster, and encryption key or algorithm mismatch are discussed. Upcoming events include the CIO 100 2020: The Conference on November 20th, 2020.

The Aerospike Standup newsletter provides a centralized platform for the Aerospike team to share blog posts, community questions, documentation updates, and release notes with developers. The Aerospike team has recently added new content, including documentation for Aerospike Expressions and updated data types documentation. Recent releases include a Ruby client update on October 8th and a Prometheus Exporter release on October 19th. Upcoming events include the CIO 100: The Conference virtual event scheduled for November 20th. Additionally, the Aerospike team has addressed community questions regarding tcp dump impact, faulty disk recovery, and encryption key mismatches.

Financial crime compliance costs financial services firms $181 billion annually, with money laundering and associated crimes estimated at $1.4-$3.5 trillion per year. Fraud prevention in the financial sector requires real-time analytics, which is a crucial aspect for banks, trading institutions, and payment processors. The global fraud detection and prevention market size was $19.9 billion in 2019 and is projected to reach $110.04 billion by 2026. NoSQL databases are increasingly being adopted as they offer real-time data analytics, fraud, and risk management features that traditional relational databases cannot match. These databases can help streamline financial crime detection processes and provide a more user-friendly platform for customer satisfaction during the client due diligence process within the financial risk management framework.

Financial crime compliance costs were $181 billion in 2019, yet the total global financial crime cost is far higher, estimated at $1.4–$3.5 trillion annually. Real-time analytics is crucial for fraud prevention, as errors can lead to significant financial and reputational damage. The fight against financial crime is complex, requiring international cooperation and robust internal controls, and is becoming increasingly challenging due to the complexities of modern transactions. Conventional databases struggle with the massive and varied data demands of financial crime detection, prompting a shift towards NoSQL databases, which offer real-time data analytics and flexibility in handling large datasets. NoSQL databases, such as those offered by Aerospike, MongoDB, and Amazon DynamoDB, facilitate advanced fraud detection by enabling the integration of multiple data sources, providing a holistic view of transactions, and streamlining the identification of suspicious patterns. Aerospike, in particular, offers high availability, speed, and cost efficiency, helping financial institutions manage vast data volumes and enhance fraud detection capabilities.

Instant payment solutions are increasingly being powered by NoSQL databases due to their ability to handle high transaction volumes and provide real-time data storage and processing capabilities. The global digital payments market is expected to grow at a CAGR of 23.8% to reach $12.4 trillion in transaction value by 2025, up from $3.7 trillion in 2019. NoSQL databases offer flexible platforms for easy scalability and cross-platform applications, making them ideal for supporting instant payment systems like TIPS and UPI. Aerospike, a successful NoSQL solution provider, has been implemented in instant payment systems to provide real-time fraud protection, risk mitigation, identity management, clearing and settlement calculations, and real-time decisioning.

The Aerospike Standup Vol. 14 is a bi-weekly newsletter for developers that covers blog posts, community questions, documentation, releases, and events from the Aerospike team. In this issue, there are updates on cryptocurrency miner script issues, unexpected server errors with the Go client's UseCompression flag, and several release notes including Connect for JMS, REST Client, Python Client, and Prometheus Exporter. Upcoming virtual events include Fintech South 2020 and CIO100 | AGENDA20 Virtual Symposium, Conference, and Awards.

Aerospike, a NoSQL database provider, has released a standup newsletter for developers, featuring blog posts, community questions, documentation, releases, and upcoming events. The Aerospike team writes about various topics such as the start-up process, using compression in the Go client, new articles, and release notes. Upcoming events include Fintech South 2020, CIO100 | AGENDA20 Virtual Symposium, and CIO 100 2020: The Conference. The team also releases new features such as Connect for JMS - Outbound, REST Gateway, Prometheus Exporter, among others.

The pandemic has led to an increase in trading volumes by both experienced and new investors, driving a surge in online brokerages. However, this growth comes with unprecedented challenges such as work-from-home arrangements, mobile app dependency, revenue stream adjustments, and the need for greater customer personalization. Additionally, there is a rise in fraud within the finance industry. These challenges are pushing companies to look for technology solutions like Aerospike's NoSQL data platform to enable faster execution speeds, analytics, real-time customer experience, better security, lower TCO, and neutrality across platforms.