How banks use data – Raconteur

How banks use data

Analysis of data can improve customer experience and be the lifeline which keeps major banks afloat in a rising tide of institutional regulation aimed at maintaining a buoyant financial system.

Banks around the world are being confronted with a record number of regulations, and those falling short of institutional obligations are paying a high price for their errors.

In response, major financial institutions are grasping big data solutions in a bid to comply with often dense regulations and reduce regulatory breaches.

Considering many banks have grown organically, often via merger and acquisition, their data is not always consistent and well organised,” according to James Arnett, a partner at business and technology consulting firm Capco.

Discover the full article published by Raconteur.