Today’s data-driven banking industry portrays a scenario where analytics is paving a productive path for banks, by offering meaningful insights on their underlying data. Although basic reporting and descriptive analytics are prevalent in the banking sector, the need of the hour is advanced predictive and prescriptive analytics.
Sophisticated technologies—like the emerging cognitive analytics for instance— are enabling banks to make better decisions and achieve profitable growth quarter-on-quarter. At the same time, with enhanced visibility into intricate information, such as individual financial health and behavioral patterns, banks now have the upper hand in risk mitigation and fraud prevention that help them comply with mandatory regulations.
With the Blockchain gaining mainstream attraction, digital currencies such as Bitcoin and Ethereum are doing their rounds among consumers for payments and other transactions. To that end, banks are leveraging analytics to prevent theft and fraudulent use of these digital currencies, by verifying and tracking the transactions with an unprecedented level of speed and transparency.
Identifying the numerous benefits of analytics, CIOs are on a constant quest to find solutions that deliver insightful information in a timely and accurate manner and also elevate productivity to a whole new level.
To help CIOs and CFOs find the right banking analytics solution provider, a distinguished panel comprising of CEOs, CFOs, VCs, analysts, and the Banking CIO Outlook editorial board has selected top players from the sector. The companies listed here demonstrate an ability to develop innovative technologies and methodologies along the banking value chain, while providing outstanding customer service.
We present to you Banking CIO Outlook’s Top 10 Banking Analytics Solution Providers 2017.