Subscribe

Categories

Add to Technorati Favorites

 Subscribe in a reader

Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Financial Services

04/11
2014

Wealth Management: Strengthening the Advisor-Client Relationship

Despite nearly a decade of negative real returns on equity and a string of bear markets, global wealth has more than doubled since 2000, reaching an all-time high of $241 trillion last year.

shutterstock 186523718 300x200 Wealth Management: Strengthening the Advisor Client RelationshipThat’s according to the 2013 Credit Suisse Wealth Report, which forecasts that global wealth is expected to grow 40% over the next five years, reaching $334 trillion by 2018.

The vibrant expansion in global affluence is being fueled by a combination of factors: the continuing expansion of emerging markets (which is estimated to account for 29% of the projected growth) along with the rise of personal wealth in the US as the housing and equity markets continue to make gains.

Continue reading »

Print post

04/01
2014

Providing CFOs Context to Apply Big Data

In order to gain funding for big data and analytics projects, IT and business leaders often must gain the approval of the chief financial officer. That can often be a tall order, since other technology investments are increasingly competing for the CFO’s attention.

shutterstock 92821639 300x200 Providing CFOs Context to Apply Big DataEven though investments in business intelligence and analytics remain a high priority for CFOs, business and finance applications continue to gain in importance among financial leaders, according to the 2013 Gartner Financial Executives International CFO Technology Study.

CFOs want compelling business cases to justify investments in big data and big data analytics.

Continue reading »

Print post

03/20
2014

Big Data, Financial Services and Consumer Credit

Big data, once relegated to the technology industry, is making its way toward financial institutions looking to make better decisions about consumer loans and credit opportunities.

shutterstock 158046419 300x200 Big Data, Financial Services and Consumer CreditThe end result? Helping financial institutions around the world gather more data, analyze it more effectively, and make decisions more quickly.

Big Data, Big Changes

It’s been business as usual in the banking industry for almost 40 years.

The fundamental process of banking has remained the same despite rapid shifts in consumer technology because banks have continued to use the same formula to make decisions: gather as much data as possible, and ask a series of logical questions about it.

Continue reading »

Print post

02/27
2014

Data Analysis To Boost Retail Banking’s Top Line

While the banking industry has bounced back on paper from the financial meltdown that began in 2008 – posting a 70% increase in net income since 2009 – much of the industry’s rebound has come from slashing costs and writing off bad debt.

shutterstock 97135283 300x188 Data Analysis To Boost Retail Bankings Top LineBut now banks are perched on the precipice of another crisis because they haven’t been able to grow their top lines and they face aggressive competition for boosting the sales of products and services, according to a new report from KPMG.

In the post-crisis environment, banks must systematically change themselves to meet new customer demands, relying on analytics and predictive modeling to effectively exploit new data streams, the report notes.

Continue reading »

Print post

02/25
2014

Big Data for Better, Faster Retail Banking Decisions

As more retail banking companies embrace the challenge of applying data analytics to their internal processes, they see more clearly the immediate and long-term benefits worth pursuing.

shutterstock 9203965 300x222 Big Data for Better, Faster Retail Banking DecisionsIf you’re in the retail banking industry here are some reasons you should get into the big data game, if you haven’t already.

Ninety-six percent of executives in the C-suites of leading Wall Street firms report having big data initiative planned or in progress, with 80% reporting they have at least one initiative completed, according to a survey by NewVantage Partners.

Continue reading »

Print post

02/24
2014

Big Data Analytics to Drive Self-Service Adoption in Retail Banking

The fallout from the financial crisis that began in 2007 continues to impact retail banks. As banks have lost and struggled to regain customer trust, they’ve also labored to retain their most profitable customers.

shutterstock 135762791 300x199 Big Data Analytics to Drive Self Service Adoption in Retail BankingIndeed, one-third of the new banking products that global customers have purchased over the past year have come from banks other than customers’ primary banks, according to a customer loyalty study by Bain & Company.

To retain and attract profitable customers, many retail banks are focused on providing face-to-face branch services for high-value clients.

Continue reading »

Print post

02/20
2014

3 Reasons Retail Banks Should Get Serious About Predictive Analytics

A focus on predictive analytics can position retail banks for continued success in slow or very competitive markets.

shutterstock 99647729 300x225 3 Reasons Retail Banks Should Get Serious About Predictive Analytics While this is not a comprehensive look at how predictive modeling can give your financial organization a leg up, we’ve examined some promising research to bring you three areas where predictive analytics will be key this year and beyond.

1. Increased customer knowledge and acquisition

The companies that tap into the power of forecasting with predictive analytics rather than relying on historical data will see an increase in profitability of up to 20% in the next three years, according to a recent report from Gartner Inc.

Continue reading »

Print post

10/24
2013

Big Data to Adapt to the ‘Always On’ Generation

Banks and other companies that are saddled with outdated legacy systems and siloed IT infrastructures often struggle to be agile and responsive in supporting today’s “always-on” customers, especially millennials, aka Generation Y.

images4 Big Data to Adapt to the Always On Generation For instance, millennials (the 105 million people in the US born between 1980 and 2005) have the highest social networking penetration of any generation as well as the highest Facebook and Twitter usage rates, according to eMarketer.

Meanwhile, 92.3% of millennials used mobile phones in 2012, 63.2% of whom used the mobile web and only slightly fewer used smartphones.

Continue reading »

Print post

10/03
2013

Banks: Analytics to Strengthen the Social Customer Relationship

Regulators such as the Federal Deposit Insurance Corporation and watchdog organizations such as the Consumer Financial Protection Bureau continue to perform a vital function in protecting the interests of consumers.

Unknown Banks: Analytics to Strengthen the Social Customer RelationshipBut as the world becomes increasingly digitized, the role of social media is expanding to help banks to understand just where they stand with customers and shareholders.

Banks hardly require guidelines and mandates from regulators since every action that a bank now takes – from the introduction of a new product to updated disclosures on credit card agreements – are critiqued in real-time in social media channels by customers, shareholders, and industry pundits, notes Fifth Third Bancorp Chief Executive Kevin Kabat.

Continue reading »

Print post

10/01
2013

Can Data Analytics Protect Us From Financial Strife?

Our recent economy and business climate is no stranger to strife. In light of that fact, organizations are looking to mitigate losses and improve their bottom lines with deep investment into data analytics.

shutterstock 134220662 300x200 Can Data Analytics Protect Us From Financial Strife?In fact, 64% of organizations are currently investing or planning an investment, according to a Gartner Inc. survey.

While we know there’s a lot of hype in big data, the “hype” is legit, according to Gartner’s advanced analytics research director Lisa Kart.

Continue reading »

Print post