Business Intelligence and Analytics in Banking (1)

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BI and Analytics in Banking
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Introduction
Banking has advanced from individual
brick-and-mortar silos to networked institutions
that caters to individual requirements of its
customers. Today, more than ever, it has become
crucial for banks and financial institutions to
differentiate their services from the rest. To
create new and innovative services that benefit
customers and add to the banks business value,
banks must leverage the banking data and utilise
it. BI and analytics solutions can help banking
institutions manage all banking and customer
data to gain insights and make informed decisions.
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Few Challenges Faced by Banks
(that can be conquered using BI and Analytics
Solutions)
Unstructured data
Customer analytics
Single view of customer
Governance
Fraud identification
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Take a tour on these statistics
According to Capgemini and EFMAs research, only
37 of customers believe that banks understand
their needs and preferences adequately.
Less than half of banks analyse customers
external data, such as social media activities
and online behaviour.
Over 70 of the executives in banks worldwide
say customer centricity is important to them.
70
37
37
Only 37 of banks have hands-on experience with
live big-data implementations, while the
majority of banks are still focusing on pilots
and experiments.
Only 29 analyse customers share of wallet, one
of the key measures of a banks relationship
with its customers.
29
37
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Key Drivers for Analytics in Banking
Risk and compliance
Unified channel experience
Increasing digital footprint
Digital challengers
End-to-end process optimisation
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How can Analytics and BI help banks with customer
data?
In acquiring new customers By retaining
customers By growing share of wallet.
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THANK YOU
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