This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/Big-Data-Use-Cases-for-Banks-135
Large Banks are realizing that there exists a potential in this data deluge.
It would be really interesting to see which bank utilizes this the first and uses it to gain a stronger foothold in the market.
The deck discusses some use cases through which you can utilize data generated from a variety of systems you have invested in in the last many years.
Through experience and technology you can now discover insights which lie hidden in this treasure trove of data held up in a variety of formats.
2. Challenge 1:
Customers 360° Needs Assessment
“The more you engage with customers the clearer
things become and the easier it is to determine what you should be doing.”
John Russell, President, Harley Davidson
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
3. Challenge 2:
Optimization of marketing spend
"Half the money I spend on advertising is wasted;
the trouble is I don't know which half."
~John Wanamaker, department store magnate
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
4. Output: Attribution by Channel
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
5. ∗ Direct financial benefits
∗ Create customer clusters and open them up for targeted
promotions
∗ Act as a direct marketing agency to target and reach out to
customers based on their credit card spend profile
∗ Indirect financial benefits
∗ Sharing customer insights with merchants
∗ More revenues for merchant
∗ Better commissions to the card provider
13 2/25/2014
Benefits from analyzing cards data
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
6. ∗ Based on the analysis of customers’ purchasing patterns across different stores,
it is possible to identify which brands have the highest correlation (due to their
complementary nature or similar positioning).
16 2/25/2014
Solution: Cross brand promotions
and partnerships
Customer buys shoes
Malono Blahnik
Customer buys LVMH Bag Partnership opportunity
identified between the
two vendors
+
Core/
Internet
Banking
Mobile
Banking
ATM/POS
Social
Media
Cards
Data
Data required
for the analysis
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
7. ∗ Fraud is traditionally modeled with
∗ Features around ‘profiles’
∗ Bank Tenure, GEO, Demographics, Bill Pay, Average Balance etc.,
∗ Web data not considered (big data issue)
∗ Dealing with high false positive and negative rates
∗ Ex - If the model identifies 100 users who might commit fraud
∗ 80 users turn out innocent (low precision)
∗ 50 users who actually commit fraud escape model (low recall)
∗ Effort to fight fraud is ongoing and painful and not accurate
∗ Speed of iterations ACROSS channels is key – no easy way to
“attempt” this now
Data Challenges in meeting Business Objectives
Core/
Internet
Banking
Mobile
Banking
ATM/POS Branch
Call
center
Cards
Data
Weblogs
Data required
for the analysis
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/big-data-use-cases-for-banks-135
8. 1
Flevy (www.flevy.com) is the marketplace
for premium documents. These
documents can range from Business
Frameworks to Financial Models to
PowerPoint Templates.
Flevy was founded under the principle that
companies waste a lot of time and money
recreating the same foundational business
documents. Our vision is for Flevy to
become a comprehensive knowledge base
of business documents. All organizations,
from startups to large enterprises, can use
Flevy— whether it's to jumpstart projects, to
find reference or comparison materials, or
just to learn.
Contact Us
Please contact us with any questions you may have
about our company.
• General Inquiries
support@flevy.com
• Media/PR
press@flevy.com
• Billing
billing@flevy.com