With reference to Big Data, Using both personal and transactional information, banks can establish a 360-degree view of their customers in order to:

• Track customer spending patterns
• Segment customers based on their profiles
• Implement risk management processes
• Personalize product offerings
• Incorporate retention strategies
• Collect, analyze, and respond to customer feedback

Question 1 - Build architecture at a high level and explain it with reasoning for a bank with above target systems including peripheral enterprise systems.

Question 2 - What would be the challenges for banks managerial, executive and IT teams for mitigating privacy & security risks with respect to the architecture in above question number 1? Please provide an explanation for the risks & mitigation steps after listing them down which should include both functional & technical perspective.