The Business Need

A leading financial service provider needed to automate and integrate real-time compliance data into a centralized dashboard, presenting critical information such as news, stock performance, and company details in their platform. They required a solution to manage the complexity of data across multiple platforms efficiently, ensuring high accuracy and speed. Additionally, they aimed to implement federated search, enabling quick and seamless access to relevant data from diverse sources for more informed decision-making.

Challenges

• Managing diverse data sources: The data resided across multiple platforms and manual data collection from these sources was time-intensive and prone to errors, reducing the efficiency of financial analysis.
• Real-time data needs: The growing volume of compliance requests demanded instant access to critical data.
• Scalability requirements: Managing high-frequency data requests while ensuring smooth operations during peak loads was a challenge.
• Inconsistent search results: Searching across unstructured and semi-structured data sources yielded fragmented or incomplete information.

Solution

Real-time data aggregation

Aggregated data from various public sites, government registries, news sites, and stock exchanges to ensure accuracy and authenticity.

Data curation

To ensure relevance and precision, advanced entity recognition and entity matching techniques were employed to extract specific data related to companies and industries. Ranking algorithms were then applied to prioritize the most relevant results, eliminating duplicates and ensuring that users received the most pertinent and useful information first. This curation process streamlined data quality and search efficiency, allowing users to quickly access critical insights.

Scalable Architecture

To accommodate high volumes of requests, the solution leveraged Message Oriented Middleware to distribute concurrent requests evenly, reducing site errors and ensuring uptime. The system was capable of handling over 200 requests per minute. This dynamic scalability ensured that the system could adjust resources in real-time based on demand, maintaining optimal performance during periods of peak load. 

Federated Search

Allowed users to search across multiple data sources with just a single query, eliminating the need to manually search each source individually. Aggregating results from diverse platforms such as public databases, stock exchanges, and news sites, the dashboard provided consolidated, relevant insights in real-time. This approach significantly reduced the time spent locating information, allowing users to access comprehensive data within 60 seconds. 

APIs for Seamless Integration

Delivered processed data to the client’s external systems or databases via APIs for real-time accessibility.

 Results

• Consolidated data from multiple sources into an intuitive interface for streamlined access to company profiles, stock performance, and compliance information.
• Reduced data retrieval time, ensuring information delivery within 60 seconds.
• Developed live dashboards providing real-time insights into compliance and financial trends.
• Enabled swift identification and mitigation of potential risks through enhanced data visualization.