A Reference Architecture Model for Big Data Systems in the Finance Sector

Abstract

In recent years there is a surge in the amount of digital data that are generated by financial organizations, which is driving the development and deployment of novel Big Data and Artificial Intelligence (AI) applications in the finance sector. Nevertheless, there is still no easy and standardized way for developing, deploying and operating data-intensive systems for digital finance. This chapter introduces a standards-based reference architecture model for architecting, implementing and deploying big data and AI systems in digital finance. The model introduces the main building blocks that comprise machine learning and data science pipelines for digital finance applications, while providing structuring principles for their integration in applications. Complementary viewpoints of the model are presented, including a logical view and considerations for developing and deploying applications compliant to the reference architecture. The chapter ends up presenting a few practical examples of the use of the reference model for developing data science pipelines for digital finance.

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