Financial Services

Banking and Corporate Analytics

Big data analytics is now a major key to new profits, especially for financial business industries. Banks look for ways to utilize their client information and financial data to provide better customer services. Due to handling wide ranged data containing information from individual transactions to business prospects, data analytics in financial business is not an option but an essential need. Deriving meaningful business values from huge datasets sounds complicated, but Metatron makes it simple. With Metatron, you can easily integrate, analyze, visualize data and predict possible future scenarios based on the analysis. Find out how financial institutions acquire insights with Metatron.

Challenges

Global bank K specializes in providing financial services for individuals and SMEs. Their aim was to create corporate networks by using their vast collection of data regarding numerous corporates’ information. They tried to link a specific firm with other related firms. To suggest such connections, they had to compare corporates’ data and extract similarities and differences from it. They also needed outlooks on firms’ performances to notify their customers of any future risks. Moreover, they wanted to classify their customers by traits.

However, processing big data was difficult without a full management tool. Data usage was limited and visualization had to be more intuitive than basic charts. Predicting future performances was also a challenge, since banks must provide agile forecasts based on accurate data analysis. Information outside of bank, together with inside information, needed to be integrated for clearer outlooks. Moreover, categorizing big number of clients at once was almost impossible without a big data discovery tool.

Business Impact

In the past years, employees of K had to go through a lot of procedures and wait for a long time to generate data analysis. They needed to figure out which department was in charge of managing the data they needed. Then they had to request authority for accessing the data, first to the department and again to the bank’s overall database manager. This weeks-taking system of acquiring data was hindering the data from being used effectively. To solve this problem, K adopted Metatron solution. It made data analysis easier by allowing them to manage their entire data sources at once, with Hadoop-based system. This enables integrated management of bank K’s various data such as internal, external, processed and unstructured data. Now employees can perform all the necessary steps from being authorized to analyzing and sharing the result on a single platform with ease and speed.

 

Better Customer Experience

K now provides customized portfolios by using Metatron. Access ability of information both inside and outside the organization allows them to apply more data in their analysis, therefore making their suggestions more adequate to customers. Quick adaptation to changes is also possible by real-time management. They created 16 categories based on customer behavior pattern analysis. K recommends products liked by similar customers based on these categories. Also, employees can generate advanced analysis by using integration function with tools such as R and Python. As a result, K proceeded further from mere customer analysis to smart marketing.