INM MAGAZINE VOLUME 8 | FEBRUARY 2016
#Analytics
DATA ANALYTICS FOR BANKS
Data analytics enable banks to efficiently roll out
internet banking, mobile banking and other alternate
delivery channels after core banking implementation,
attracting existing customers as well as new-younger
aged customers to banks. This can help banks realise
an uptake in the usage of their delivery channels.
Adopting data analytics in banks makes sense for the
following important reasons:
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Banks need tools which can enable them to
perform efficient rule-based decision making.
Instead of branch managers analysing the
data themselves, they can avail decision
support from software, reducing the time
required to make a crucial business decision.
It helps banks handle Credit Risk
Management and Operational Risk
Management in a better way.
It gives banks immediate analysis on the
performance of each business unit, ranging
from bank regional managers to the central
office level.
Identify how products like home loans are
performing.
Indian businesses are racing headlong towards
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