Credit Suisse Group AG is one of the world’s leading global private banks with distinctive investment banking capabilities.
Credit Suisse Group set out to standardize on an enterprise-wide big data and analytics platform.
Working with Cognizant and Cloudera, Credit Suisse created a Predictive Analytics platform that delivers targeted recommendations for trading ideas, research material, investment strategies, and much more. The platform currently analyzes more than 54 terabytes (TB) of data from Credit Suisse databases, external data feeds, and public data sets, with two TB being added daily.
Within a year, Credit Suisse productionalized the Cloudera-based platform with numerous additions including a number of security, authentication, and rapid push-button deployment enhancements. This allows any user that has completed associated prerequisites to get up and running in hours, not weeks, and has spurred many organizations across the bank to adopt the new platform.
Credit Suisse’s Predictive Analytics platform has driven significant productivity savings—nearly 10 hours a month per analyst—and has provided new insight into investment strategies for clients. Additionally, being able to run the platform on commodity hardware enabled Credit Suisse to reduce total cost of ownership by 38 percent.