{"id":14072,"date":"2019-11-28T08:35:58","date_gmt":"2019-11-28T08:35:58","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14072"},"modified":"2019-11-28T08:35:58","modified_gmt":"2019-11-28T08:35:58","slug":"embracing-data-driven-analytics-and-the-future-of-business","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/embracing-data-driven-analytics-and-the-future-of-business\/","title":{"rendered":"Embracing data-driven analytics and the future of business"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">By capturing and leveraging massive volumes of data, financial institutions can capitalize on new data-driven business opportunities. In fact, financial institutions are already well on their way to doing so in four main ways: <\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\">improving consumer experiences, <\/span><\/li>\n<li><span style=\"font-weight: 400;\">optimizing risk controls, <\/span><\/li>\n<li><span style=\"font-weight: 400;\">automating business processes,<\/span><\/li>\n<li><span style=\"font-weight: 400;\">improving operational efficiency. <\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">These are accomplished using a variety of data-driven solutions that customize services and offerings, provide artificial intelligence (AI)-powered communications (e.g. chatbots, robo-advisors), predict and detect risk levels and fraud attempts, automate a wide variety of time-consuming tasks, standardize processes and procedures and provide appropriate data for making well-informed decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As financial institutions continue to see the value from data-driven analytics, it will be important for them to embrace the self-service capabilities that will inevitably come with it by putting data into the hands of employees and allowing them to use the data to unleash innovation, create organizational enthusiasm and develop new ideas. Those that do will be the long-term winners in a data-rich future.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.digitalistmag.com\/files\/2018\/12\/Screen-Shot-2018-12-13-at-11.20.53-AM-1024x492.png\"><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14072 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Open Banking Brings a Challenge to Card Dominance in Payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/open-banking-brings-a-challenge-to-card-dominance-in-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/09\/2-cards-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16280\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16280'>\n\t\t\t\tOpen Banking Brings a Challenge to Card Dominance in Payments\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='How FinTechs are helping refugees and immigrants'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/how-fintechs-are-helping-refugees-and-immigrants\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/how-fintechs-are-helping-refugees-and-immigrants-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11019\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11019'>\n\t\t\t\tHow FinTechs are helping refugees and immigrants\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='OCBC Bank in Singapore introduces artificial intelligence-powered HR mobile app'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/ocbc-bank-in-singapore-introduces-artificial-intelligence-powered-hr-mobile-app\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/OCBC-Bank-in-Singapore-introduces-artificial-intelligence-powered-HR-mobile-app-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7028\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/OCBC-Bank-in-Singapore-introduces-artificial-intelligence-powered-HR-mobile-app-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/OCBC-Bank-in-Singapore-introduces-artificial-intelligence-powered-HR-mobile-app-100x100.jpg 100w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7028'>\n\t\t\t\tOCBC Bank in Singapore introduces artificial intelligence-powered HR mobile app\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>By capturing and leveraging massive volumes of data, financial institutions can capitalize on new data-driven business opportunities. In fact, financial institutions are already well on their way to doing so in four main ways: improving consumer experiences, optimizing risk controls, automating business processes, improving operational efficiency. These are accomplished using a variety of data-driven solutions &hellip;<\/p>\n","protected":false},"author":5,"featured_media":14106,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[80,194,197],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14072"}],"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=14072"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14072\/revisions"}],"predecessor-version":[{"id":14073,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14072\/revisions\/14073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/14106"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}