In the banking industry, trust is the largest bankable asset for any institution and its risk profiling happens to be the most volatile, complex, and regressional one among the non-systematic risks. We will explore the role of Big Data Analytics in catering a support mechanism to the industry. I will also share hypothetical scenarios for the audience and the potential of this advanced technology in harnessing the best practices.
Current Challenges
As a civilization, the commercial pursuit has been around since the very beginning but the connectivity witnessed in contemporary times has been a phenomenal change. Adding to it, the information is stored and shared in an unprecedented volume. No event goes unnoticed or vanishes in thin air due to these developments. The banking sector is one of the largest sets of accessible institutions of finance across the globe.
In the recent past, the great recession of 2008 is the finest example of malpractices in this sector that triggered huge dents on the global economy and the reputation at the same time. Once considered among the finance’s top players in the US, Bear Sterns was acquired by JP Morgan Chase in March 2008. Beneath the subprime mortgage crisis, the industry faced ‘loss of trust’ which demotivated investors ...
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