Banking & Financial Services
Big Data delivers real-time insights on customers, operations and markets, to balance risk and reward by the second.
A classic difficulty of detecting fraud lies in scoring a single customer transaction against the historic record: is that customer attempting fraud, or falling victim to fraud, as you watch?
Usage models get more accurate as more data is ingested, but monitoring activity in real-time to tell fraud from atypical remains a challenge.
Let DataSonar work for you in improving the quality of your operation and the levels of your confidence.
The more you can profile your customers to segments, the better can you market to them.
Traditional segmentation is static, usually based on demographics; big data segmentation is dynamic, as it considers such factors as merchant and daily-transaction data, touchpoint interactions, and even the possibility of mapping a customer to more than one segment.
A growing number of customer interface channels means a harder time in processing what positive or negative feedback their customers are sharing about their experience.
You can analyze comments on social media or product review sites and respond quickly, especially when addressing emergencies, while the new insight improves customer engagement and understanding.
Reporting and risk assessment
Gauging financial performance against risk tolerance is crucial to the business, as is reporting. Big data helps both in gathering and processing risk data.
Your risk managers can have it both ways: be alerted in real time when thresholds are reached, and analyze risk data on demand.
Business risk analysis
Engaging in a business deal with a counterparty involves risk. Usually, the higher the risk, the higher the figures or penalties in the deal, and the stricter its terms.
Since no single formula can put a figure on risk, mathematical simulation methods are used to paint a risk-exposure picture. DataSonar provides simulations with the huge processing power and high reliability they require.
Credit risk assessment
The global financial crisis ushered in an era of stricter loaning rules. You need to be more careful, and thus more accurate, in assessing a customer’s credit risk and credit score.
Master DataSonar to process a number of quantitative indicators, and pulling in customer data, from deposit information to customer service emails to credit card purchase history.
Better customer service means analyzing unstructured customer data from multiple fronts: social media, email, telephone, complaint and suggestion files, discussion forums, website interaction.
The wider and deeper the analysis, the better will you understand your customers, their needs, and how to address them.
Now that you know Big Data Banking & Financial Services solutions, see DataSonar solutions for Government & Public Authorities.