Implementing data science in bank technology
For banks – in an era when banking is becoming commoditised – the mining of big data provides a massive opportunity to stand out from the competition. Every banking transaction is a nugget of data, so the industry sits on vast stores of information. By using data science, our company can collect and analyse big data and in that way banks can improve, or reinvent, nearly every aspect of banking. Data science can enable hyper-targeted marketing, optimised transaction processing, personalised wealth management advice and more – the potential is endless.
With our professional help banks can model their clients’ financial performance on multiple data sources and scenarios. Data science can also help strengthen risk management in areas such as cards fraud detection, financial crime compliance, credit scoring, stress-testing and cyber analytics. A large proportion of the current big data projects in banking revolve around customers – driving sales, boosting retention, improving service, and identifying needs, so the right offers can be served up at the right time.