Although fraud is a large, complicated, and application-dependent subject, everyone agrees that it is better to avoid heavy financial losses and unhappy customers. That goal is well-served by performing fraud detection continuously and as near to real-time as possible.

Performing compliance checking as a continuous operation is similarly advantageous, enabling early detection and intervention when violations of industry, federal, or state regulations can incur heavy costs and fines.

SQLstream's RAMMS offers a great solution for building continuous fraud and regulatory compliance monitoring solutions using the following facilities:

• Continuous execution of complex, time-sensitive matching rules, such as detecting someone apparently using a credit card or mobile phone in two locations at the same time

• Capturing and replaying data, with configurable levels of detection targeted only at messages that, for example, already trigger some potentially coarse-grained “potentially-fraudulent” filter and are thus worth incurring their inherent additional cost

• Distributed, optimized, load-balanced processing

• High data volume throughput

• Easy management and transformation of multiple formats of data, enabling uniform processing of diverse sources of streaming data

• Easy management, maintenance, and enhancement of streaming queries and distributed processing nodes

• Easy extensibility and interfacing with specifiable external programs for case-specific detection and analysis

• Efficient processing of constantly updated datasets – continuous streams of data

• Easy integration with heterogeneous data sources – existing (or new) streams and external databases, log-files etc.

• Simple integration with alerting and real-time action-related systems, existing or to-be-developed

Continuous Compliance Monitoring

Continuous compliance monitoring of company operations against external regulations is increasingly important as regulatory bodies tighten legal requirements on Financial Services companies to comply with federal or watch regulations.

Such regulations are increasingly becoming real-time in nature, such as regulations governing fair execution of stock trades and the like.

SQLstream provides an excellent vehicle for integrating disparate, dynamically changing data and the systems that process them, such as the following:

• Changes to operational data stores and databases, existing or added

• Changes to business process automation systems, existing or added

• Output logs from applications and business transactions, existing or added

• Data from Enterprise Message Buses

• Data from ETL systems, existing or added

• Historical data stored in application databases, existing or added

Changes in regulations can be updated in near real-time because they are expressed in a high-level declarative SQL language, rather than embodied in opaque, low-level programs accessing the data over Enterprise Service Buses. The latter is the prevalent method used today to achieve near real-time integration of the data.

SQLstream's time window capabilities and declarative SQL processing allow natural expression of compliance monitoring logic, and allow for reuse of streams, views and queries across many different applications.