Latency is of paramount importance to financial services organizations and it’s not hard to see why. Just 5 minutes of lag could cost $20m, assuming each millisecond costs around $4m across dealings according to a report by the Tabb Group.

This means that latency is less about efficiency and more about profitability.

Innovations like Edge computing can give many financial establishments the upper hand by fetching the analysis closer to the data, diminishing latency, and boosting your competitive edge.

Edge computing has been expanded to handle the extensive inpouring of data from the everyday world. Edge approaches have already been developed in places like ATMs and banking apps. 

Stephan Fabel, director of product at Canonical, states, “Only by reducing network latency can the next generation of customer-facing services be realized within bank branches, at ATMs, and point-of-sale services.”

He says Edge computing may nowadays have more applicability for investment banking, the industry that will, “look to capitalize on this opportunity, using advanced analytics, enabled by Artificial Intelligence and machine learning, to process huge amounts of data on the Edge, and better predict market behaviors.”

By moving to Edge computing, financial services companies can crunch data more rapidly for faster and more suitable insights. In addition, as limitations related to the opening and closing of markets begin to deteriorate, clients, businesses, and traders will be able to drive markets at any moment of the day or night, and reduced latency will be an important consideration.

Speed is not just applicable for traders. One scenario of how details are so important to assembling a positive and persuasive customer experience comes from website load times. Google penalizes websites that load slowly. If a website takes more than 2 seconds to load, customers catch it at once. In addition, the bounce rate grows extraordinarily the longer a page takes to load, up by 32%, as the load time increases from 1 to 3 seconds.

The details matter. And it is the underlying infrastructure that supplies financial services enterprises with the power to handle the details and give consumers more satisfactory experiences.