Showing posts with label Big Data. customer service. Show all posts
Showing posts with label Big Data. customer service. Show all posts

Sunday, February 7, 2016

Big Data Helps Banks but should help customers too

http://www.moneylife.in/article/big-data-help-banks-but-benefits-should-be-passed-on-to-customers-as-well/45304.html
Banks collect and use client data for better targeting. They should also reduce operational costs by using technology and pass on the benefit to customers
I recall what Greg Baxter, global head of digital strategy at Citigroup mentioned almost a year back (reported in Financial Times on 1 February 2015) that big data is a big opportunity, making a big difference in how the banks serve their customers in future. Financial health barometer can be read by every customer, not just how much balance one has in the account as much as how much the money is likely to be overdrawn every month.