Case Study: HSBC achieves 10x faster risk calculations with Google Cloud Platform

HSBC Driving breakthrough compute capacity and speed with Dataflow running on Google Cloud

HSBC, one of the world’s largest banking and financial services organizations, needed a faster, more flexible way to run its highly complex counterparty credit risk (CCR) and derivative valuation adjustment (XVA) calculations. Its older on-premises systems could no longer keep up with growing regulatory demands, business needs, and the scale of billions of daily calculations, so HSBC turned to Google Cloud Platform and its Dataflow service.

Google Cloud Platform helped HSBC launch NOLA 2.0, an in-house analytics library built on a cloud-native, Apache Beam pipeline running on Dataflow. The solution went from prototype to production in 10 months, increased calculation capacity and speed by 10x to three billion calculations per second, lowered costs, and expanded from two sites to 40. HSBC also gained faster intra-day risk visibility, better portfolio re-pricing, and more agile deployment through CI/CD.

HSBC

Dominic Williams

Global Head of Traded Risk Technology