BFC Bulletins Monthly News Digest

With the rise of Big Data also comes the concept of a data lake – a repository of information so large it is somewhat like a vast body of water …

Financial institutions have long used data as a way to minimize risks. This data, however, typically comes from traditional sources (credit bureaus, SEC filings, etc.). But many (79% according to …

Financial institutions sit atop huge pools of data, but they won’t enjoy the value of it if they keep using yesterday’s tools. The sad reality is that most financial institutions …

Despite the progress personalization has made in other sectors, financial institutions are falling short. The trouble is that personalization can’t be bought; it can only be built through data. And …

Data is the hottest new commodity around the world. For financial institutions, much data is already readily available to them (e.g. basic client information, client transaction histories, etc.); however, digitalization …

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 …

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.    Fintech For Good: Fact …

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 …

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 …

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 …

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 …

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. …

Equifax Inc. and Urjanet are partnering to give more power to consumers and businesses to use their payment data from utility, telecom and cable providers to give a more complete …

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 …

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 …

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 …

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 …

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 …

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 …

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, …