The text highlights the importance of risk management in finance and the need for a database that can support fast, up-to-date, streaming-ready, high concurrency, flexible, scalable, SQL-enabled, and cost-effective solutions. SingleStore is introduced as a modern "NewSQL" database that can meet these requirements, offering fast ingest via Pipeline features, transactional capabilities, and query performance. The text describes the challenges of using legacy relational databases like Oracle and how a company implemented an architecture based on SingleStore, Apache Kafka, and Hadoop/HDFS to improve risk management and analytics capabilities. The benefits of this updated data platform include reduced licensing costs, lower TCO, fresher data, faster analytics results, and more business opportunities.