How do we detect fraud more quickly? Why are we losing customers? Which is the next best product to offer? The answers to these questions and more are in reach. But for financial services companies they are hiding in a mountain of data. Analytics can help. Watch Video
Recruitment for data scientists remains in “its infancy” within the banking sector, according to Robert Grant, sales director, at banking technology recruiters Cititec. “Some banks are reacting more quickly than others, but some still don’t appear to have a strategy to manage Big Data in place, whilst others have a clearly defined plan of action which they are engaging with,” he said.
“Banks typically do not react as quickly as other industries. They are like oil tankers, but then all of a sudden there will be a burst and demand will kick in. We saw this with Scala, for example.”