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Tag Archives: Data

5 Big Data myths

With Big Data a trending topic, it’s a good time to review 5 of the biggest myths surrounding it: Big Data provides company growth – with all the hype surrounding Big Data, companies should be careful to examine whether or not it will be a useful tool for them and …

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Video: Big Data challenges and opportunities

Sui-Jon Ho discusses how data is being used in financial institutions and why Big Data is presenting them with unique challenges and, more importantly, opportunities.    Berlin-based online bank to use Bitcoins to issue loans worldwide Germany forms cybersecurity agency Coming soon: 3 big changes for B2B payments

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3 Big Data trends in finance

Global investments in Big Data and business analytics is projected to grow from USD 130.1 billion in 2016 to over USD 203 billion in 2020. Here are 3 of the biggest Big Data trends, each represented by an innovative new solution: Business intelligence (Qlik Analytics Platform) – Qlik has developed …

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How to survive a data breach crisis: the Monzo case study

Monzo, a disruptive neo-bank working to expand into the U.S., recently experienced a hiccup in its data security that resulting in nearly 500,000 U.K. account holders being urged to change their PIN numbers. It is important to note that the vulnerability was discovered by internal engineers and quick and decisive …

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Banco Santander launches data science apprenticeship program

Banco Santander in the UK is offering a first-of-its-kind data science apprenticeship to non-graduates. The program, being operated in conjunction with WhiteHat, will allow the bank to build a pipeline of data savvy employees, something in line with its EUR 20 billion digital transformation effort. The program also highlights the …

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Shocking amount of unstructured and unused data in the U.K.

According to research conducted by Crown Records Management, as many as 59% of data across U.K. organizations is unstructured. Moreover, 40% of it is dark (unused). This is not surprising given that data is commonly stored in over 20 types of locations, including email account, the cloud, hard drives and …

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6 ways financial institutions in Singapore are using Big Data

Singaporean financial institutions have been at the forefront of taking advantage of Big Data with innovative initiatives that have resulted in positive results for both operational efficiency and customer satisfaction. Here are 6 ways in which they are using Big Data today: Automating client processes – machine learning helping automate …

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HSBC opens data innovation labs in London and Toronto

HSBC has opened two data and innovation labs, one in London and the other in Toronto. The labs will engage in activities aimed at improving HSBC’s products and services through the use of analytics and robotics. The labs will also cooperate with firms specialized in other important areas such as …

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Big Data in Kazakhstan: press review

Big Data technologies are gradually entering the Kazakh market. Large companies use solutions based on them, schools of big data analysts open, state projects on digitalization are launched. A lot of materials on this topic have been published in the local media this year, here are the main ones.   …

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Big Data in Uzbekistan: government initiatives

Government is the main initiator of Big Data activities in Uzbekistan. Here are the main ones this year.   The first BI analysts school in UZ The first school of BI analysts ASPEX BI SCHOOL has been opened at Inha University in Tashkent this March. Students can undergo three-month training …

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How the largest Ukrainian bank process Big Data

PrivatBank is the largest bank in Ukraine. It serves more than 19 million customers. Here’s everything you need to know how the bank processes customer data.   Data sources The bank analyzes a huge amount of data: from geographical coordinates and routes to customer preferences on social networks. The main …

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Digitizing Russia’s data for better public services

Despite the advances brought by digitalization and the wide availability of public services in electronic formats, Russians are still forced to make in-person visits and deal with physical documents stored in dozens of different places to do a number of, what should be, fairly mundane and routine tasks. Not only …

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Russian banks to send biometric data to centralized database

Russia’s Central Bank and Rostelecom plan on using biometric data collected by financial institutions to fill out the Unified Biometric System (EBS). EBS, designed to facilitate the delivery of banking services remotely, was launched over a year ago for all financial institutions to add to and benefit from; however, only …

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Kyrgyzstan launching open data era

Kyrgyzstan has begun the process of opening their data, with the State Communications Committee working to create a portal that will give citizens access to up-to-date information from government agencies, including the Ministries of Education, Economy, Justice and Finance as well as the Tax Service, the National Statistical Committee, the …

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Kazakhstan to create Personal Data Agency

The government of Kazakhstan is planning to create the Personal Data Agency under the Security Committee of the Ministry of Digital Development. This new agency will be responsible for coordinating and improving the storage and security of personal data. This includes work to prevent and respond to personal data leaks. …

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Russia debates the personal nature of Big Data

Amendments to Russia’s Law on Information, Information Technologies and Information Protection are currently being discussed and could have major implications for how Big Data is used in the country. The discussion centers around whether Big Data (which does not contain personal data per say but could potentially be further processed …

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Biometric identification still far off for Kazakhstan’s financial sector

In Kazakhstan, biometrics as an identification tool is still a far-away dream. Currently, the existing state database of citizens is being used for biometrics in the country. Although 11 financial institutions have connected the database, only 3 are actively testing the system’s biometric identification capabilities. And even within those 3 …

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Russia’s Central Bank outlines information security strategy

Russia’s Central Bank has published its Main Directions for the Development of Information Security in the Credit and Financial Sphere for 2019–2021. The document outlines a plan to combat cyber threats, including proposed regulations regarding the use of Big Data, artificial intelligence, robotics and the internet of things in the …

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Balancing data privacy rights

Data is quickly becoming a point of contention between companies working to collect, process and secure it and governments seeking to force companies to provide them the data they possess. The debate between the two sides revolves around an age-old debate: freedom vs. security. While governments argue that they should …

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