Regulatory reform and reporting, tailored experiences and investment strategies top the agenda

Since the crisis of 2008-09, huge new waves of regulation have redefined reporting processes for financial services firms - including banks, insurance companies, asset management, wealth management and other firms. Meanwhile, proliferating channels, disruptive digital technologies and new market entrants have increased complexity, raised the competitive stakes and led to a steep rise in consumer expectations.

The common thread in these waves of change? Big data holds the key to the challenges and opportunities they present.

Big Data and Finance: Analytics drives the agenda

  • Optimizing Customer Experience and Response across Channels: Millions of daily transactions, occurring every day and across myriad devices and channels, produce massive data volumes that need continuous integration and analysis to ensure customer experiences and responses are optimized.
  • Bolstering Enterprise Risk Management: By integrating finance, risk and compliance data to support advanced big data analytics and robust modeling, banks and insurers are improving their risk visibility, reporting metrics and anti-fraud capabilities.
  • Streamlining Regulatory Compliance: Reporting isn’t about revenue, so the more efficient and integrated it is, the better the bottom line.
  • Predicting Customer Behavior: Knowing which customers are most likely to switch banks allows for targeted promotions and focuses resources on the people who drive the profits.
  • Communicating More Effectively: Whether serving individuals or institutions, access to the right data enables two-way conversations and personalized recommendations.
  • Dealing with “Dark Data:” Lurking deep within the petabyte-sized pools of market data around the world are patterns and customer insights that can mean the difference between index-topping ideas and average numbers.

U.S. Federal Reserve

Fighting the war on fraud:

With financial crimes at epidemic proportions, some firms are fighting back.

Big Data and Finance, Big Data and Financial Services from Teradata

Financial Services & Big Data investments

Because financial services companies have unique understanding of ROI, it is worth asking how big data investments can pay off in the biggest possible way. The key components:

  • The Right Big Data Strategy : clearly defined strategies start with understanding how big data can drive substantive performance gains
  • Taking a Holistic Ecosystem Approach : to ensure big data environments work effectively, in line with business goals and serving unique user needs
  • People and Teams : big data success is driven by collaboration and business expertise, not just by tools and technologies