Business Intelligence

Korea Financial Intelligence Unit Reduces Financial Reporting Time From Four Hours to 45 Minutes

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Executive Summary

Korea Financial Intelligence Unit (KoFIU) wanted to ensure robust system performance to ensure the efficient processing of large amounts of data sent by Korea's financial institutions at the end of each working day and accommodate steady increases in the number of domestic and foreign transactions. The challenge was to streamline the data distribution process, which required staff to work long hours to monitor the movement of data from accounting systems to the database and to the data warehouse and shorten report aggregation and query times. KoFIU improved data processing performance by implementing Oracle Coherence, which enabled the agency to split the large currency transaction reporting system for aggregating currency transactions into two but continue the parallel processing of financial data.

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