{"id":14004,"date":"2019-11-12T11:36:29","date_gmt":"2019-11-12T11:36:29","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14004"},"modified":"2019-11-12T11:49:40","modified_gmt":"2019-11-12T11:49:40","slug":"financial-institutions-need-a-reboot-in-thinking-about-how-to-use-data","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/financial-institutions-need-a-reboot-in-thinking-about-how-to-use-data\/","title":{"rendered":"Financial institutions need a reboot in thinking about how to use data"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Financial institutions sit atop huge pools of data, but they won&#8217;t enjoy the value of it if they keep using yesterday&#8217;s tools. The sad reality is that most financial institutions still use data like they did two decades ago \u2013 building review mirrors reports to make decisions about the future. They must abandon these outdated concepts and change their mindset to build productive data analytics solutions that can improve consumer experiences. In other words, they must focus on the future and what\u2019s next. The main issue for financial institutions to solve is how to transform data into actionable insights and better products and consumer experiences. Those that are still stalling and drowning in their data need to follow the example of successful financial institutions and actively pursue partnerships with FinTechs that can help them break out of their old mindset and leverage data to find creative solutions to existing (and even future) problems. Only then will they be able to ensure their success in the long term.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14004 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='The social impact imperative of FinTechs'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-social-impact-imperative-of-fintechs\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/the-social-impact-imperative-of-fintechs-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10941\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10941'>\n\t\t\t\tThe social impact imperative of FinTechs\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Uberization turning the banking business model upside down'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/uberization-turning-the-banking-business-model-upside-down\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/08\/turning-banking-business-model-upside-down-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10556\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10556'>\n\t\t\t\tUberization turning the banking business model upside down\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='FinTechs represent an opportunity for wealth managers, not a threat'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/fintechs-represent-an-opportunity-for-wealth-managers-not-a-threat\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/09\/fintechs-represent-an-opportunity-for-wealth-managers-not-a-threat-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13720\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13720'>\n\t\t\t\tFinTechs represent an opportunity for wealth managers, not a threat\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Financial institutions sit atop huge pools of data, but they won&#8217;t enjoy the value of it if they keep using yesterday&#8217;s tools. The sad reality is that most financial institutions still use data like they did two decades ago \u2013 building review mirrors reports to make decisions about the future. They must abandon these outdated &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[197],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14004"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14004"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14004\/revisions"}],"predecessor-version":[{"id":14022,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14004\/revisions\/14022"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}