Disrupting the Banking Industry with Big Data and Data Analytics

banking company should be wise in investing it’s money in analytic. Good assessment in current condition will be good start to implement comprehend analytic initiative.

Tom Kadala

Bankers seen sipping away the hours over client martini lunches at upscale restaurants and posh clubs are rare these days. The slump in credit demand from the global economic crisis is part to blame but so to is the absence of ‘live’ clients. Branch offices that were once community hangouts on payday look more like empty office spaces for lease. Today bank clients ‘hangout’ virtually, while doing most of their banking online. They lurk in and out web-based services unwittingly leaving behind hundreds of data points (like footprints) that when reconstructed using data analytics algorithms can accurately reveal the client’s real identity. 

At a first-of-its-kind event in Atlanta,Georgia titled, Customer Insights & Analytics in Banking Summit 2013, representatives from various forward-thinking banks and data-analytics service companies presented their combined views to a packed room of financial professionals. Organized by Data-Driven Business (datadrivenbiz.com), a US arm of FC…

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