Big Data In Banking: It's Time To Act

Big data is a key trend for many industries, including financial services in general and banking in particular. Key business drivers in the banking industry, such as improving customer service, increasing revenue and profit, as well as supporting regulatory compliance and risk management, indicate that big data can provide value to banks. However, the current use of big data in banking isn't equal to the priority that banks accord it today. We also found that banks don't necessarily talk about "big data"; they instead seek more powerful and flexible solutions that provide better insight into their customers or their risk exposure — things they have been doing for years, if not decades. What's different now? The new data sources as well as the tools and technologies that can use all of this data to provide better customer insights. This report provides solution profiles of big data deployments in banking as well as insight into the business value that these solutions provide to banks.