Data is enabling banks to do more than they ever have. Banks have used data to understand customers and target them with personalized offerings and experiences, view and mitigate enterprise risk, elevate operational performance and improve regulatory compliance.
- 33% financial services organizations voted for experience enhancement and 29% voted for risk mitigation as the most relevant outcomes they would drive if there were endless possibilities with data analytics
- For 53% banking enterprises integrating multiple analytics tools was the biggest challenge in implementing analytics data-led initiatives
- For 40% insurance respondents, the main challenge rose from understanding the right analytics techniques to be deployed, integration of multiple data sets and ensuring data hygiene.