Integrating API Data for Model Preparation

Requirements Clarification & Assessment

1. End Goals of Models

   • Regulatory Risk Assessments: Ensure compliance with financial regulations.
   • Credit Decision Frameworks: Evaluate creditworthiness of individuals or entities.
   • Internal Risk Evaluations: Assess potential risks within the institution.
   • Marketing Strategies: Optimize campaigns based on market sentiment.
   • Audits: Ensure accuracy and integrity of financial data.

2. End Users

   • Internal Workers: Primarily data scientists and analysts.
   • Skill Level: Intermediate to advanced in data manipulation and analysis.

3. Interface Requirements

   • APIs: Sufficient for integration with other systems.
   • GUI: Optional, depending on user preference and ease of use.

4. Data Processing Needs

   • Real-time Streaming: Necessary for timely decision-making in volatile markets.
   • Batch Processing: For less time-sensitive tasks.

5. Compliance and Privacy

   • Data Privacy Laws: Ensure all data handling complies with relevant regulations such as GDPR.
   • Security: Encrypt data during transmission and storage.