Internet Banking - can't search transactions older than 2 years?

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Forums › Finance and wealth management › Internet Banking - can't search transactions older than 2 years?

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pdh

443 posts

Ultimate Geek
+1 received by user: 290

#3257638 9-Jul-2024 04:51

I'm in the OP's corner.
In light of today's data-mining and AI volumes of data - anyone saying this is hard or costly for ANZ is living in yesterday.

I've been paid to collect and store data since paper and mag-tape days.
I've built databases for a living for a decade or two.

Let's look at the data volume involved.

Lets say 2 million accounts with 10 transactions a day and 1000 characters per transaction.
That's 7 TB per year.
10 years of data on 3 disks for a total of 3000 $NZ.
You can tweak those inputs to give every soul in NZ 2 accounts, 100 transactions per day...
Whoopee - that's 150 TB & just silly - and it's still not going to frighten anyone.

If much of it sits in slower-access storage - so be it.
As a customer is logging-in, pull it up into working storage.

Hey, it's 2024, this is isn't financially or technically difficult - we just don't expect our banks to give us very much in return for what they cost us.

Jase2985

13735 posts

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#3257639 9-Jul-2024 05:00

pdh:

I'm in the OP's corner.
In light of today's data-mining and AI volumes of data - anyone saying this is hard or costly for ANZ is living in yesterday.

I've been paid to collect and store data since paper and mag-tape days.
I've built databases for a living for a decade or two.

Let's look at the data volume involved.

Lets say 2 million accounts with 10 transactions a day and 1000 characters per transaction.
That's 7 TB per year.
10 years of data on 3 disks for a total of 3000 $NZ.
You can tweak those inputs to give every soul in NZ 2 accounts, 100 transactions per day...
Whoopee - that's 150 TB & just silly - and it's still not going to frighten anyone.

If much of it sits in slower-access storage - so be it.
As a customer is logging-in, pull it up into working storage.

Hey, it's 2024, this is isn't financially or technically difficult - we just don't expect our banks to give us very much in return for what they cost us.

it's not just the storage cost, it's the processing power to access and display it

jamesrt

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#3257653 9-Jul-2024 08:39

pdh:

10 years of data on 3 disks for a total of 3000 $NZ.

Which totally ignores the requirements for enterprise storage redundancy and resilience and availabilty and backup (and yes, those are all entirely separate things at the enterprise scale level) and also the duplication of a lot of that data across multiple test regions.

michaelmurfy

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#3257717 9-Jul-2024 13:21

pdh: Lets say 2 million accounts with 10 transactions a day and 1000 characters per transaction.
That's 7 TB per year.
10 years of data on 3 disks for a total of 3000 $NZ.
You can tweak those inputs to give every soul in NZ 2 accounts, 100 transactions per day...
Whoopee - that's 150 TB & just silly - and it's still not going to frighten anyone.

If much of it sits in slower-access storage - so be it.
As a customer is logging-in, pull it up into working storage.

Hey, it's 2024, this is isn't financially or technically difficult - we just don't expect our banks to give us very much in return for what they cost us.

If you think you can do any better than the staff at any of these banks who are really competent people and know their stuff then perhaps get a job at one of those banks and build it for them, make it easily searchable, fast and cheap noting that you can't change their core banking system without millions of dollars in investment and changing everything else.

The question, is the extra compute along with development hours worth it for the few customers who would require such a feature? In my years working in banks I've encountered a very small handful of customers who need to go back further and while I've been out of the banking space for a few years now there were always processes to grab that data if you really required it because that data is ultimately yours.

I agree, it is a nice to have but as previously stated there are reasons to not do such a thing either.

Michael Murphy | https://murfy.nz
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floydbloke

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#3258490 11-Jul-2024 15:32

michaelmurfy:

...

If you think you can do any better than the staff at any of these banks who are really competent people and know their stuff then perhaps get a job at one of those banks and build it for them, make it easily searchable, fast and cheap noting that you can't change their core banking system without millions of dollars in investment and changing everything else.

...

...and making it secure.

I think your statement applies across so many use cases where a techy outsider goes "why don't they just..." or "what I would do is..."

Having worked in IT, albeit not in a technical role, in large corporates and large government organisations for many years now, I appreciate that what may appear a simple fix on the outside quickly becomes technically complex and convoluted with interfaces and APIs left, right and centre, particularly where legacy systems are in play. Add a good bit of red tape, risk aversion, legislative requirements and security considerations into the mix (particularly for government) and very few solutions are cheap and easy.

Sometimes I use big words I don't always fully understand in an effort to make myself sound more photosynthesis.

ANglEAUT

altered-ego
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#3258800 12-Jul-2024 13:20

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