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Point of View: Why Banks need to Harness the Power of Their Data Assets

Business Analytics

 

The Future is Data Driven

Financial Services companies, leveraging advances in banking technology, from core platforms to online banking to mobile banking to back office automation, coupled with the drastic improvements in data storage and information processing technologies are creating an unprecedented amount of transactional data. This collection of data includes traditional structured transaction data from banking systems as well as unstructured “interaction” based data from online, mobile, social media channels and even speech to text transcriptions of contact center conversations.

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