Big Data Digital Analytics Takes Over the Banking Industry
Big Data is analyzed by data analytics professionals that use technology like Segmint to make smart predictions
Within the past few years, major changes have been made to the financial industry. Digital banking has changed the entire business process and how consumers’ credit card history, transactions and financial behavior is monitored and evaluated by financial advisors to give sound advise to consumers’ regarding upcoming financial decisions and overall progress (Matt and Rachel, 2017).
In the past, bank data consolidated into a large and stifling report, which was lengthy and obtuse, neglecting to give the average consumer conclusive and accurate financial advice (Matt and Rachel, 2017).
Now, technologies like Segmint, are paving the way the way for bank data analytics. Segmint has recently partnered with IBM to embrace the evolution of consumer bank data (Matt and Rachel, 2017).
As a result of the drastic advance in technology, banking is now being done on electronic platforms that have the ability to make insightful and true predictions which can save consumers from making the wrong decision regarding their financial assets, understanding their key motives, and ensuring prevention of data-loss. Bank data analytics can help bankers and customers stay both safe, and happy. At the end of the day, it is about customer satisfaction (“Digital Banking Summit..”).
Now in 2017, customers don’t even need to visit a bank, to manage their finances. With new technology, it is clear to see that the majority of high-profile banking will be done electronically, increasing the need for engineers who are talented in big data science, machine-learning, cybersecurity, and old as well as new modern-stack programming languages (“Digital Banking Summit..”).
Finance and technology go hand in hand in the modern world, and technologies are evolving quickly to keep up with consumer demand.
Talented engineers working in fin-tech are able to create tools that can evolve the financial workplace, and satisfy customer satisfaction in top banks around the world, saving time, money, and tears.
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“Digital Banking Summit: Technology shifts digitizing entire banking process.” India InfoLine News Service, 24 November 2015, https://www.indieinfolive.com/article/news-top-story-digital-banking-summit-technology-shifts-digitizing-entire-banking-process-115112400564_1.html. Accessed 30 Oct. 2017.
Kinney, Matt and O’Neill, Rachel.”IBM Partners with Segmint for Customer Service.” Finance in Focus from IBM Big Data Analytics Hub, 3 Oct. 2017. http://www.ibmbigdatahub.com/podcast/finance-focus-ibm-partners-segmint-customer-service. Accessed 30 Oct. 2017.