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Big Data Analytics for Banks – Road blocks and Way forward

By November 9, 2015Analytics

BIG DATA ANALYTICS IS BIG NEWS! Data is growing at a tremendous rate with an increase in digital universe from 281 Exabyte’s (in year 2007) to 8000 Exabyte’s (in year 2015).  The banking and financial services (BFS) industry has been one of the biggest adopters of Big Data technologies such as Hadoop. 

However, a lot of potential is unrealized when it comes to leveraging the data on Hadoop for analysis and decision making. One major issue that plagued the industry was mainframe data integration which required lots of resources with uncertain risks and rewards involved. Here, Veristorm Enterprise Solutions takes advantage of high-performance, streamlined data transfer solution which is easy to deploy and quicker than ever, and the performance gains achieved are remarkable. vStorm enterprise provides a single unified data integration platform to get all enterprise data on same platform where companies are storing external data. Leveraging vStorm Enterprise Solutions a bank can get a head start into using big data analytics for building out a recommendation engine, managing customer satisfaction and churn as well as managing fraud and credit risk.

Read the Full paper here White Paper_Big Data Analytics for Bank