The Banking and Financial Services (BFS) industry has emerged as a leading adopter of Data and Analytics (D&A) services. BFS firms are gradually transitioning from traditional D&A services, such as data warehousing and data migration, and are integrating complex and innovative analytics solutions to differentiate themselves in a relatively mature market. With significant data assets, BFS organizations can leverage advanced D&A tools/services to enhance operational efficiency, manage fraud, improve stakeholder experience, and drive product/channel innovation.
In this report, we assess the current state of analytics adoption in the BFS industry, highlighting emerging themes such as the need for personalized experiences, data monetization, data on the cloud, responsible artificial intelligence, data for sustainability, and data-driven risk and compliance management that are driving the adoption of data-driven analytics technology and services in the BFS industry. The report also examines high potential and high impact D&A use cases that support BFS enterprises across the value chains of different lines of business such as retail and commercial banking, payments, asset and wealth management, and investment banking. Moreover, the report discusses how enterprises are utilizing the power of data and analytics to prepare for upcoming economic uncertainties.
In this report, we:
Banking Information Technology