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Revolutionizing Risk Assessment

Unique Value of HPC for FSIs

All it takes is one big financial mistake to put a business in peril. That’s why many of world’s biggest financial services institutions (FSIs) rely on high-performance computing for risk-management and scenario analyses. HPC – sometimes referred to as supercomputing – is a market expected to increase by $12.51 billion from 2020 to 2025, according to a 2022 study from Technavio. Analysts estimate the market value of HPC is already at $34.9 billion.

FSIs have consistently demonstrated leadership in embracing new and emerging digital technologies, a trend that remains evident today. This includes commercial banks, investment firms, and insurance companies, all of which are leveraging the potential of high-performance computing to enhance the intelligence, speed, and security of their operations.

As high-performance computing (HPC) continues to evolve, businesses are increasingly harnessing its power to drive advanced artificial intelligence (AI) and machine learning (ML) applications for rapid and intelligent data analysis.

HPC for Risk Assessment

How AI is changing FSIs?

  1. Employing chatbots and advanced voice analytics tools to enhance customer service utilizes voice recognition technology, data analytics, and AI algorithms.
  2. Credit Risk Assesment: AI accelerates credit risk assessment and helps making better decisions on whether a loan applicant is eligible for credit or not.
  3. Fraud Detection: HPC-driven Al identifies potentially fraudulent transactions or suspicious claims in real time.
  4. Cyber Security: Constant threats from hackers and fraudsters can be ward off with AI tools.
  5. Regulatory compliance: Automating and streamlining the process of identifying, collating and analyzing data from disparate systems helps meeting current compliance requirements.

Why use high-performance computing for FSIs?

FSIs are no different than others where the value of field employees making decisions is less efficient. According to David Dorfman, Solution Specialist on HPC at Microsoft “In today’s economy, accurate risk assessment is at a premium. The insurance industry is facing an increasingly complex environment with competitors offering ever-expanding investment options. The industry is responding with more flexible products that offer more aggressive returns and place new computational demands on existing resources.”

Another noteworthy example of is Mastercard‘s utilization of machine-learning (ML) algorithms on HPC systems to swiftly process extensive datasets, enabling the detection and prevention of fraudulent transactions. With each transaction, these machine-learning algorithms scrutinize factors like the cardholder’s purchasing patterns, geographic location, and travel history, while simultaneously considering real-time information regarding card usage, including the intended purchase, location, and other purchases made on the same day.

“Accelerated digitization means that we are also generating increasingly larger quantities and diverse types of data as we complete the tasks essential to our daily lives. Data-driven innovation is all about enabling the products, services, and solutions of the future – while balancing the scale of current and future risks.”, states Raj Seshadri, president of data and services at Mastercard.

Since its operation, Aura Computing has earned a good reputation for its ecological service, quality performance, excellent customer service, and flexible pricing scheme. We have a dedicated private network, servers, and storage. Our professional and dedicated customer service & technical support team is waiting for you! You can take your HPC projects to new heights with our high-performance computing service.

If you’re still unsure what cloud computing service to choose, contact us to try our free demo.


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