Abstract

The aim of this book series is to review and validate the Reference Architecture (RA) for BigData, IoT and AI applications in the financial and insurance sectors (INFINITECH-RA), which will serve as a blueprint for the rapid and cost effective solutions development and deployment. The INFINITECH-RA will specify a set of building blocks that will support advanced BigData, AI and IoT applications. These building blocks will support scalable, unified and interoperable data collection from different sources and databases (e.g., OLTP-On-Line Transactional Processing-, OLAP-On-line Analytical Processing-, Data Lakes, SQL databases, NoSQL databases, alternative data sources), efficient real-time predictive analytics, multi-channel/Omni-channel interactions, data governance functionalities, as well as interoperable data sharing and interactions between stakeholders of the financial & insurance value chains. INFINITECH-RA will specify the structuring principles that will drive the integration of these building blocks in real-life solutions. The INFINITECH-RA will serve as a basis for designing, developing, and deploying novel BigData, AI and IoT solutions that feature “SHARP” (Smart, Holistic, Autonomy, Personalized and Regulatory Compliance) characteristics. The project will also provide a number of blueprints for developing and deploying solutions aligned to the INFINITECH-RA. The blueprints will be based on the elaboration of different designs and deployment configurations that will be tailored to the needs of specific solutions. Both the INFINITECH-RA and its relevant blueprints will address functionalities that are prioritized as part of the SRIA (Strategic Research and Innovation Agenda) of the BDVA (BigData Value Association), while considering and consolidating concepts from RAs introduced by relevant standardization bodies and associations.