We're seeing an emergence of new banks and fintech companies which are challenging the traditional way of banking. Banks must utilize big data and alytics to modernize processes and connect with their customer, or otherwise face being left behind
New York City, NY (PRWEB) October 05, 2016
The banking industry has seen significant disruption in recent years, with new regulations and FinTech insurgents entering the fray, changing the landscape irrevocably.
Banks are, however, well equipped to deal with the shift in their reality, with both the resources and the talent in place to retain their position. But they are having to embrace new processes, technologies, and ways of thinking. In particular, they are looking to data analytics. Those who can best integrate it into their operations and create a culture where data is at the heart of decision making are well positioned to optimize processes, improve customer experience, and secure the future of banking.
This December 7-8 in New York, the Big Data & Analytics for Banking Summit will take place at the Crowne Plaza on Times Square. Speakers from the likes of Citi, PNC Bank, Goldman Sachs, and Blockchain, will take to the stage to discuss applications for analytics in the banking industry, from customer retention to fraud prevention and compliance, as well as sharing insights around best practises for its adoption.
Among the 25+ speakers due to present will be Nikhil Aggarwal, Executive Director and Head of FCC Analytics at Standard Chartered Bank. He will discuss the ways that companies are looking at analytics to present one of the most pressing issues facing them - cybercrime.
Aggarwal argues that to use analytics to its full potential, different departments must all work together. In a recent interview with us, he noted that: “The biggest unexploited opportunity in Banking analytics is the lack of ‘connectivity’ within the enterprise. For example, most financial institutions have built out separate analytics practices including marketing and digital (web, social, and mobile) analytics, credit risk analytics, operations analytics, fraud analytics and compliance analytics.” He argues that “organizations need to change this myopic mindset by encouraging the formation of cross-banking analytics projects teams.”
Curator of the event, Megan Rimmer, said: “Until 5 years ago, the banking industry had been relatively untouched by the digital revolution that has transformed so many other industries. However, now we're seeing an emergence of new banks and fintech companies which are challenging the traditional way of banking. Banks must utilize big data and alytics to modernize processes and connect with their customer, or otherwise face being left behind.”
Limited Early Bird Passes are available until Friday, October 7. For further information about speakers, the agenda and registration, check out the website: https://theinnovationenterprise.com/summits/big-data-analytics-for-banking-summit-new-york-2016
Innovation Enterprise Ltd, a division of Argyle Executive Forum, is a business-to-business media brand specializing in delivering the most innovative business solutions to executive-level decision makers. Innovation Enterprise produces a range on online and offline content, including, but not limited to, summits, online learning, webinars, and white papers, as well as offering other additional services such as lead generation and bespoke research.
Innovation Enterprise focuses on seven key channels - Finance, Supply Chain, Analytics, Big Data, Strategy, Digital, Innovation & Sports - to ensure that organizations are furnished with all the cutting-edge insights necessary to driving growth in the evolving business environment.