• PGP in New Age Banking
    Co-created with Imarticus Learning
    4.8 out of 5 by 669 learners
    4x Industry Demand
  • POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    4.8 out of 6071 learners
    2x industry demand
  • MBA in Investment Banking
    Co-created with Jain University
    4.5 out of 5 by467 learners
    2x industry demand
  • MBA in Fintech
    Co-created with Jain University
    4.4 out of 5 by 349 learners
    2x industry demand
  • MBA (Distance) in Banking and Finance with NGASCE
    Co-created with NMIMS
    4.7 out of 5 by 669 learners
    4x Industry Demand
  • Post Graduate Program in Banking and Credit Underwriting
    4.7 out of 5 by 1376 learners
    12 X industry demand
  • Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    4.9 out of 5 by 238 learners
    14 X industry demand
  • Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    4.6 out of 5 by 1421 learners
    6X industry demand
  • Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    4.6 out of 5 by 1139 learners
    4X industry demand
  • PGP in Banking and Wealth Management
    4.6 out of 5 by 1429 learners
    3X industry demand

In this data-driven world, Data Analytics has become vital in the decision-making processes in the Banking and Financial Services Industry. Investment banking and other businesses wherein, real-time information is used, volume, as well as the velocity of data, has become critical factors. Big Data Analytics comes into the picture in cases like this when the sheer volume and size of the data is beyond the capability of traditional databases to collect.
Today, data analytics practices have made the monitoring and evaluation of vast amounts of client data including personal and security information by Banks and other financial organisations much simpler.
There are several use cases in which Big Data Analytics has contributed significantly to ensure the effective use of data. This data opens up new and exciting opportunities for customer service that can help defend battlegrounds like payments and open up new service and revenue opportunities.
For example, in October 2016, Lloyds Banking Group had become the first European bank to implement Pindrop’s PhoneprintingTM technology for detecting fraud. Their technology used AI to create an ‘audio fingerprint’ of every call by analysing over 1300 unique call features – such as location, background noise, number history and call type – to highlight unusual activity and identify potential fraud. It cracks down on tactics like caller ID spoofing, voice distortion and social engineering without any need for customers to provide additional information. Subsequently, Lloyds Banking Group went on to win the Gold Award for ‘best risk and fraud management programme at the European Contact Centre & Customer Service Awards 2017.
Danske Bank uses its in-house start-up, Advanced Analytics to evaluate customer behaviour and determine preferences, as well as to better identify fraud while reducing false positives. Eventually, the implementation of data analytics helped Danske Bank to increase detection rates of new types of fraud by to 40%. Once they added deep learning to the equation, this figure rose to 60%, a significantly considerable improvement over conventional fraud detection method.
JPMorgan Chase also developed a proprietary Machine Learning algorithm called Contract Intelligence or COiN for analysing various documentations and extracting relevant information from them. With the implementation of this system, JP Morgan Chase was able to eliminate an estimated 360,000 hours of work every year which otherwise would have had to be done by financial loan officers and lawyers.
Big Data is also used for personalised marketing, which targets customers based on the analysis of their buying habits. Here, financial services firms can collect data from customers' social media profiles to figure out their needs through sentiment analysis and then create a credit risk assessment. This can also help establish an automated, accurate and highly personalised customer support service. Big Data also helps in Human Resources management by implementing incentive optimisation, attrition modelling and salary optimisation.
The list of use cases implemented in the workflows of the Banking and Financial sector is growing day by day. The massive increase in the amount of data to be analysed and acted upon in the Banking and Financial Sector has made it essential to incorporate the implementation of Big Data Analytics. Knowing the importance of data science is crucial in these sectors and should be integrated into all decision-making processes based on actionable insights from customer data. Big Data is the next step in ensuring highly personalised and secure banking and financial services to improve customer satisfaction. In this extremely competitive market, it is essential for companies to invest heavily in Data Analytics to continue being relevant and reach the efficiency levels of other companies which have already implemented it.

For Online Course Enquiries
About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
Related course
  • Placement Program
    PGP in New Age Banking
    Co-created with Imarticus Learning
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 669 learners
    4x Industry Demand
    Upcoming Batches
    Date Location Schedule
    8th Jan 2022 Live Instructor - Led Training Online
    Date Location Schedule
  • Finance
    POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 6071 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    Live Instructor - Led Training Online
    Date Location Schedule
  • Recent Graduates
    MBA in Investment Banking
    Co-created with Jain University
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.5 out of 5 by467 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule
  • Recent Graduates
    MBA in Fintech
    Co-created with Jain University
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.4 out of 5 by 349 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule
  • Placement Program
    MBA (Distance) in Banking and Finance with NGASCE
    Co-created with NMIMS
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 669 learners
    4x Industry Demand
    Upcoming Batches
    Date Location Schedule
    8th Jan 2022 Live Instructor - Led Training Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program in Banking and Credit Underwriting
    Course duration(6)
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 1376 learners
    12 X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available MUMBAI Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.9 out of 5 by 238 learners
    14 X industry demand
    Upcoming Batches
    Date Location Schedule
    None DELHI Online
    Date Location Schedule
  • Certification
    Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1421 learners
    6X industry demand
    Upcoming Batches
    Date Location Schedule
    27th November Live Instructor - Led Training Online
    Date Location Schedule
  • PRODEGREE
    Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    Course duration(Months)
    3
    Upcoming batches
    2
    Organizations enrolled
    20
    4.6 out of 5 by 1139 learners
    4X industry demand
    Upcoming Batches
    Date Location Schedule
    13th February ONLINE Weekend
    Date Location Schedule
    29th May ONLINE Weekend
  • Post Graduation
    PGP in Banking and Wealth Management
    Course duration(Months)
    2-3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1429 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    21st October CHENNAI Weekday
    Date Location Schedule