The most advanced evolutionary step of data-driven banking

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nrumohammadse
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Joined: Tue Dec 24, 2024 8:02 am

The most advanced evolutionary step of data-driven banking

Post by nrumohammadse »

Banks and financial institutions base their relationship with their customers on trust. On the customer side, trust means first of all sharing a series of sensitive information . Based on the knowledge gained from this information, the bank formulates hypotheses and designs specific solutions. If the foundations on which the decision-making process is based are therefore provided by shared knowledge, trust is, we could say, the resource that fuels the very existence of banking activity.

What has changed with the advent of the Internet is not the substance italy whatsapp resource of a phenomenon, which remains the same, but rather the structure, extension and intensity of the relationship between banks and customers. The channels opened thanks to mass digitalization have enormously increased the amount of data to which organizations in the banking sector can have access , determining a real paradigm shift .
– the one we experience every time we access our bank's online services – is a direct consequence of digital transformation. The most macroscopic effect of this somewhat epochal transition is the multiplication of opportunities for industry players to deepen their knowledge of their target audience. Preferences, needs, purchasing patterns: a wealth of information resources contained in Big Data that tells what and how much people are willing to pay. It is precisely thanks to data-driven banking that banks can now holistically manage all this information , with a unique approach that integrates cutting-edge methodologies and technologies.
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