Most banking and financial services are working hard to adapt to new competitive data-driven business. Banks and other financial institutions are trying to adopt new strategies based on data, that can help their business grow and enhance services they provide for their customers. With streaming applications and analytic platforms in hand, financial sector companies can change their game.
Some of the benefits that advanced analytics landscapes can have on financial and banking services companies are in the area of optimizing risk management operations. Risk management teams can provide more accurate risk intelligence insights in near real-time. Advanced analytics can bring value to many fields in risk management including PSD2 regulation, fraud management, credit management and operational risks. Other areas and applications may include customer segmentation and profiling, product cross-selling, customer spending patterns identification and similar.