Why Digital Banking Needs a Modern Data Platform

Digital banking is transforming the traditional banking landscape with its customer-centric approach and lower operational costs. However, managing and processing data intelligently plays a crucial role in delivering personalized services and making strategic decisions. Legacy systems built on Relational Database Management Systems (RDBMS) are unsuitable for modern digital banking operations due to scalability issues, difficulty in handling unstructured data, and limited real-time processing capabilities. NoSQL databases offer an ideal solution for managing diverse data formats and structures, enabling faster access to complex data and facilitating horizontal scaling. Digital banks can leverage NoSQL platforms like Aerospike to maintain a secure transaction history at low costs, make decisions based on real-time business intelligence data, and ensure regulatory compliance.