Category: Banking

Khan bank adopts new digital approach based on microservices with apache cassandra

Khan Bank, a leader in digital banking, is partnering with DataStax to deliver and carry out new digital services across the bank’s operations. The implementation uses the power of Apache Cassandra™ and DataStax Enterprise to modernize the bank’s IT infrastructure across its retail and digital banking services.
Data is now more valuable than ever, and we are at a point with analytics, machine learning (ML), and artificial intelligence (AI) that we have enabled deep insights into what a customer wants. We can now use data analytics, and the result is a powerful improvement to our customer experience. Also, it will help us to decide what needs to change and to deliver more secure, reliable, faster banking services to our customers.
At Khan Bank we wanted to re-architect our applications to take advantage of microservices application designs, as well as implement an operational data layer to support this process. By using microservices rather than older monolithic applications, organizations can respond faster to customers and adopt more agile processes. For us, moving to microservices helps us meet our goals for expanding customer services faster, supporting data growth and making integration across application stacks easier. According to Sachin Nair, CIO at Khan Bank:
“At Khan Bank, our business must maintain sustainable growth and sound profits, and we need a broad vision that consistently engages in new ideas. For our IT strategy, our approach to digital transformation relies on being able to implement agile software development and microservices. We had to re-architect these applications so that we could take advantage of those changes over time. This was essential as we faced a year-on-year growth in the volume of data we hold of around 70 percent. We decided on Cassandra as the database for our new operational data layer, and that DataStax would be the best partner to support our shift.”
The way organizations are tackling technology and customer service is evolving to meet the needs of customers in a digital and rapidly changing world. At Khan Bank we are embarking on an ambitious digital transformation journey, based on being more customer-centric and innovative than other banking providers. In the words of Simon Molenberg, GM of APAC for DataStax:
“The move to digital banking services is a worldwide phenomenon and Khan Bank’s approach is leading the market in Mongolia. As banking enterprises want to conduct more transactions securely and easily over the Internet, providing services faster is essential. DataStax helps organizations like Khan Bank make the move to microservices, helping them manage their customer data effectively.”
We have completed building a modern technology solution, which improves efficiency by re-using data assets by creating a data lake environment. Currently, data lake architecture is being used for customer behavioral scoring with DataStax. We are shifting towards a more analysis-focused approach to get closer to our customers