Enterprise Data Platforms for Financial Institutions
Big data analytics has shaken up nearly every industrial sector, enabling businesses across the globe to gain intelligent insights and new perspectives. No where is this more true, however, than in the financial services sector. Banks, credit unions and other institutions deal with a wide range of actionable data, and when this information is analyzed, organizations can reap an array of impactful benefits.
The regulatory environment is shrinking the community banking market, and requiring that banks and credit unions retain massive amounts of data, from loan details to daily transactions. By analyzing their big data, community banks are transforming costs into a revenue generator.
Data Realty builds data management and analytics platforms that allow you to increase wallet share of current customers while acquiring the most high value new customers at the lowest acquisition cost. We help turn the cost of your disparate systems and regulatory environment into an asset.
Banks and credit unions use our Data Management Platform to ingest and organize disparate big data into Hadoop (fully managed by Data Realty) which enables analytical queries and can stream data into a robust Data Analytics Platform (powered by Aunsight, a powerful data science platform developed to provide speed to insights).
Analytics Focus Areas for the Financial Industry
Wallet Share & New Customer AcquisitionUse data to understand how to increase your share of current customers’ wallets by suggesting other products specific to their needs.
Target your advertising differently in order to get the same, or better, results while spending less money overall.
Risk & Regulation
Automate standards, plans and reports to stay in compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Questions Banks & Credit Unions Can Answer with Analytics:
Which potential customers look like our current best ones, and how can we target them?
Who are our customers, what are their needs, were are they coming from?
Why are our customers leaving us? What are the signals that a customer is about to leave?
How can we utilize algorithms for stress-testing and performing massive testing on various financial scenarios?
Do our customers prefer an actual branch or an app? If branch, were is the next ideal location and when?
How can we improve the efficiency of our internal processes through automation in order to reduce operational costs?
Before banks can take advantage of all the benefits big data can offer, they must ensure that they are able to avoid some of the common stumbling blocks seen with these initiatives... more >
Technology has not only influenced the game of Monopoly, with the early millennium release of the Electronic Banking Edition where card transactions replaced traditional dollar bills, but also the banking industry, where changes in their infrastructure and management practices happen quickly due to an increasingly technological society... more >