From legacy to leverage - unlocking financial data with SurrealDB

Financial institutions, burdened by vast amounts of transactional data stored in legacy systems like HBase, can transform their operations by migrating to SurrealDB's multi-model database, which combines document, relational, graph, and vector data models. This transition is part of a strategic roadmap for financial firms to stabilize and modernize their data to meet regulatory needs, followed by using intelligence to create customer value and ultimately monetizing their data through new revenue streams. SurrealDB enables the creation of connected graph schemas that facilitate compliance, enhance customer personalization, and enable innovative services such as real-time credit scoring, fraud detection via AI, and building holistic customer profiles. By treating data as a dynamic asset rather than static history, financial institutions can unlock new business models, offering data-as-a-service, open banking APIs, and synthetic data products. This shift from legacy storage to intelligent, real-time connectivity allows these institutions to not only manage but also monetize and differentiate through their data, leading the way in financial innovation.