Stock exchange reaches for the Cloud to meet compliance, agility targets

Improving data management automation, data-driven services and regulatory compliance levels sets the pace for India’s financial sector.

To augment its regulatory compliance and leverage data-informed decisions and insights, the National Stock Exchange of India Ltd. (NSE) has upgraded its IT infrastructure.

In line with its critical national role, NSE continually seeks to drive efficiencies and data-driven capabilities with technology. In its latest digital transformation exercise, it has adopted an analytics platform to integrate data inputs from numerous databases—including trading data, clearing and settlement data; reporting by members; risk management services, and client data.

The new platform integrates access to these multiple datasets to generate insights and to run comprehensive reporting for regulatory purposes. The associative insights built into the system dashboards go toward improving the firm’s agility and insights when responding to risks and incidents. 

According to the stock exchange’s Senior Vice President (Regulatory Group), Dr Dinesh Kumar Soni: “We wanted to be able to have a single view of our data and be able to analyze it very intuitively… to integrate our data on a single platform, reduce the time taken for reporting and quickly identify risk areas. The technology supports our teams so that they can concentrate on the actions they need to take rather than spending time putting data together and generating reports.”

With the analytics platform, manual tasks have been greatly reduced, and tasks that used to take three to six can now be completed within 30 minutes. Analysts can now interact with data using dynamic visualizations to evaluate data with a bird’s eye view. Also, non-technical staff can now create and use their own reports with no-code solutions and natural language processing.

Said Varun Babbar, Managing Director, India, Qlik, the cloud data analytics platform vendor: “We are delighted to help the National Stock Exchange of India implement Qlik to manage regulatory compliance proficiently… bringing data together and being able to utilize it for fine-tuning decisions and business processes.”