Jaroslaw Knapik, Senior Analyst, Financial Services Technology

Big Data will dramatically enhance key areas in banking such as fraud analytics, customer analytics, and web analytics. It does not replace banks’ current analytical infrastructure, but extends its scope: it has become conceivable to conduct analyses based on all data, not just a sample.

Big Data also extends the range of data types that can be covered, the problems that can be addressed, and the user groups able to use it within a single organization. Beyond the familiar base of transactional data and text, emerging technologies and frameworks are providing banks with the power and tools to digest digital and physical channel interactions and various types of data such as customer data, graph data, and geo-location data.

This is not just a matter of the data being available, or of technology seeking a problem to solve. Data from customers, banking channels, back-office …