BANKING, TECHNOLOGICAL ADVANCEMENT AND BIG DATA

The advent of technology has made Banking processes faster, more reliable, convenient above all customer-oriented with. The volume of data being processed has risen considerably and the need for proper analysis and interpretation of this huge data has risen as well.

As banks struggle to make profits and remain liquid, they need to understand their customer’s needs and offer products designed to suit them and remain competitive. To achieve this, banks need to move from the basic debit and credit and dwell deeper into analytics, data mining, predictive analysis to enable them to acquire, manage and achieve high customer retention. Data Analytics in the banking sector has enabled banks to improve on the services being offered to their customers by designing products tailored to meet the needs of customers, create and provide content and strategies to enable them to serve customers better, which ultimately increases revenue.

  • Customer SegmentationCross-selling and up-selling
  • Feedback mining and adequate interventions
  • Proactive risk assessment
  • Discovering spending patterns of the customers
  • Identifying the main channels customers transact with.
  • Personalize product offerings

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Utiva

Utiva

We are enthusiastic about the ‘Future of Work’ and Industry 4.0. We are developing top talents for fast-rising companies. We are a technology company!