In episode 61 of the Acceleration Economy Minute, Kieron Allen discusses Couchbase and its customer Revolut, a UK-based fintech provider. Couchbase is on our Top 10 list of Data Modernization Enablers.
This episode is sponsored by Acceleration Economy’s Digital CIO Summit, taking place April 4-6. Register for the free event here. Tune in to the event to hear from CIO practitioners discuss their modernization and growth strategies.
Highlights
00:37 — In developing a profile on Couchbase (publishing this week), Kieron came across a compelling use case/customer story on Revolut, a UK fintech provider. The use case highlights the power of the Couchbase database and how customers can use it to save money and impact their customers.
01:00 — Revolut was experiencing challenges in combating the evolving ways that fraudulent users were flouting the company’s detection mechanisms. The company needed an application to enable them to respond to the threat; it had to have extremely high availability and throughput to meet the demands of its fast-growing customer base.
01:28 — Revolut used Couchbase to facilitate the development of its ‘Sherlock’ fraud prevention app which monitors transactions and, if any unusual activity is detected, customers receive a notification and they are able to approve the transaction if appropriate.
02:00 — Powered by machine learning (ML), the app consistently updates rules and evaluates transactions in under 50 milliseconds. Sherlock catches 96% of fraudulent transactions and effected a 75% improvement above industry standards. It saved more than $3 million.
02:15 — Revolut is just one example of how Couchbase helps companies develop high-performance apps while leveraging ML and artificial intelligence (AI).
Which companies are the most important vendors in data? Click here to see the Acceleration Economy Top 10 Data Modernization Short List, as selected by our expert team of practitioner-analysts
