Modern Business Intelligence for Financial Services
Using big data to succeed in a volatile and competitive global market
From credit card and insurance companies, to third-party payment processors and mortgage originators, to traditional retail and commercial banks, financial services institutions (FSIs) hold a lot of data on their customers -- more than virtually any other type of business. But it’s not always easy to extract the insights locked away in that data. Data silos, privacy issues, varied data formats and overwhelmed IT departments can hold those insights hostage for so long that by the time they’re identified — they’re no longer relevant.
Watch this demo to see how Zoomdata can be used to analyze risk in a personal loans portfolio.
Big wins with big data analytics for finance
Learn how UK Insurer Markerstudy Uses Big Data Analytics To Save 7.5M Annually
A UK insurer took up the challenge of using its data to boost business performance. It saves $7.5M annually through better fraud detection and lowering customer cancellation rates by 50 percent.
Using Cloudera Enterprise Data Hub (Hadoop), Spark and Zoomdata, the company built a big data analytics solution that delivers immediate payoffs. Their modern data platform can now analyze hundreds of millions of insurance quotes in seconds and visualize the results in real time using Zoomdata.
With Zoomdata, analysts can explore, filter and drill down into financial markets data, revealing patterns and trends that speed and enhance decision making.
With Zoomdata on Cloudera, we analyze billions of transactions in seconds. So we can respond almost instantly to quote requests. That means more sales and enhanced service to customers and agents.
Nick Turner, Markerstudy
Gaining an Edge in Payment Processing
Another Zoomdata customer is the dominant credit and debit card operator in Brazil and the largest payment processing company on the continent by revenue and market value. But maintaining that position is no sure thing. Payments — especially electronic payments — are a huge and growing market in Brazil and other South American countries. And plenty of new entrants in the financial services market want a piece of the action.
To stay ahead of its competition, the company realized it needed to gain more insight from its data — and faster. It struggled to gain clear metrics and insights on company promotions and special offers in less than 30 days. By then, insights were useless.
With the help of a systems integrator, the company built a joint solution using Zoomdata and Cloudera. It uses the solution to monitor and explore multisource data captured by the company’s extensive POS, ETF, and e-commerce device transactions throughout Brazil — 6.8 billion transactions annually. The solution empowers the company to apply streaming analytics to predict and identify patterns in the financial habits of its customer base -- in near real time. With Zoomdata, the company can reduce analytic latency from more than 30 days to less than one hour.
Learn how Cielo S.A. uses modern business intelligence to lead the payment processing market.
Through this level of business intelligence Cielo can now tailor marketing and promotions unique to each customer and merchant with near-real-time accuracy, changing the messages and offers based off of the specific needs of each customer.
This represents a quantum increase in the company’s ability to use market and macro-economic factors to improve customer satisfaction.
Alisson Jales de Oliveira, Head of Big Data IT
Cielo
