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Event Stream Processing: How Banks Can Overcome SQL and NoSQL Related Obstacles with Apache Kafka

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While getting to grips with open banking regulation, skyrocketing transaction volumes and expanding customer expectations, banks have been rolling out major transformations of data infrastructure and partnering with Silicon Valley's most innovative tech companies to rebuild the banking business around a central nervous system. This can also be labelled as event stream processing (ESP), which connects everything happening within the business - including applications and data systems - in real-time. ESP allows banks to respond to a series of data points โ€“ events - that are derived from a system that consistently creates data โ€“ the stream โ€“ to then leverage this data through aggregation, analytics, transformations, enrichment and ingestion. Further, ESP is instrumental where batch processing falls short and when action needs to be taken in real-time, rather than on static data or data at rest. However, handling a flow of continuously created data requires a special set of technologies.