Financial Services will Invest $9 Billion in Big Data This Year

Bank Innovation

Data is created at every financial transaction, and as datasets expand beyond what a single database can hold, big data is born. DataBank Exclusive Insurance Lending Mobile Open Fintech PFM Premium Sales & Marketing Startups Big Data big data analytics Investment US Bank

Four opportunities for CFOs and big data


The big data era is upon us. Financial enterprises are swimming in zettabytes—a billion terabytes—of data. For financial services firms, big data can offer a path to. Managing Risk Featured CFO big data big data to manage risk gary fink big data

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

What Are the Big Data Initiatives at Major Companies?

Bank Innovation

Financial institutions and other large corporation are using Big Data for a range of successful projects and initiatives, according to a recent survey. Almost 81% of executives, surveyed by consulting firm NewVantage, characterized their big data investments as “successful.”

Big Data Firm Palantir Prepares For Potential IPO


Known as the oldest startup in Silicon Valley, the data analytics software company said in a press statement that it has filed confidential paperwork with the U.S. IPO big data filing Investments ipo News palantir SEC What Is Investing?

Reading Predictive Tea Leaves With Smart, Big Data


However, as Cam Brown, CEO of PredictHQ , told Karen Webster, the key is to find “smart” data buried within the Big Data. The PredictHQ platform aggregates and verifies about 2 billion data points across a single “global events” application programming interface ( API ).

Fintech task force deliberates pros and cons of ‘big data’

Bank Innovation

quintillion bytes of data are created every single day. As such, lenders are collecting vast amounts of consumer information and calling it “big data,” a key product to generate insights, support decision making, and enable automation. More than 2.5

How CFOs can benefit from big data


Financial firms looking to deploy big data to drive better business are, in my opinion, making the right move. Accenture’s paper on the topic, Exploring Next Generation Financial Services: The Big Data Revolution, outlines some of the gains of working.

Using a big data approach to overcoming banking regulatory requirements

Insights on Business

The data they must analyze is overwhelming. Regulatory pressure is creating a financial data analytics crisis. But the sheer amount of data in all its forms that must be analyzed is a sticking point. Integrating big data technology with risk management for a complete solution.

Triggering (Actionable) Big Data Insight, Always In Motion


Value-added data in motion? The fresher the data, the faster you can get insight and take action. But analyzing data in motion for faster insight and action is not just limited to payment fraud or account takeover use cases. Poetry in motion? Maybe not.

Kubernetes Meets Big Data


Organizations yearn order and simplicity over chaos and confusion, but the data-driven era we live in challenges these desires on a daily basis. Seemingly every day, massive amounts of transactional and streaming data is being introduced into enterprises.

Big Data: ‘Strategic Spaghetti’ For Retailers


Nicole Jass, Vantiv VP of Data Products, said in a recent interview with Karen Webster that data must be the core of that strategy. But not just any heap of data will do. It must be the right data, distilled and synthesized into something retailers can actually use to help aim their flying spaghetti. Everyone loves to talk about “Big Data,” but Jass said the biggest data in the world is of little use if merchants don’t know what to do with it.

Can Spotify And Metallica Localize Live Shows With Big Data?


Variations of those scenarios are numerous, of course, but perhaps that gives some idea of the potential importance of a new data-backed set list endeavor involving Spotify and Metallica. Spotify digital data will help Metallica tailor its set lists for specific shows, an attempt to appeal more precisely to local audiences that — even in this age of apparent homogeneity — might have slightly different tastes than concert-goers a few hundred miles away. Spotify Data Thinking.

Breaches are making big data small

Payments Source

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith. Financial institutions Data privacy rules Risk management ISO and agent Data breaches Payment processing Merchant

Big Data For Big Returns At Retailers Big And Small?


Thus, in the age of Big Data, how to ensure that time and money are well-spent? In an interview with PYMNTS’ Karen Webster and Nicole Jass, vice president of Data Products at Vantiv , the two delved into the ways insight (and new products) can be gleaned from Big Data, with an eye on cementing customer loyalty or forging new relationships in a hypercompetitive age of commerce.

Big Data and Analytics: Keys to Bank Innovation in Distribution and Marketing


Banks are relying more and more upon Big Data and analytics to transform their distribution and marketing strategies. Everyday Bank Featured banking innovation Big Data

Can Big Data Help Provide Affordable Healthcare?


Big Data and AI can help with the growing care provider shortage. The post Can Big Data Help Provide Affordable Healthcare? Here is how and why.

Applications of Big Data Analytics That Yield the Most Value

Let's Talk Payments

Worldwide revenues for big data and business analytics will grow from $130.1 Analytics Big data Insights Asia Big Data Analytics Europe insights USbillion in 2016 to more than $203 billion in 2020, at a CAGR of 11.7%, IDC estimated. “The.

Is Online Lending Ignoring Big Data Risks?

Bank Innovation

Elevate Credit Inc., which is pining to get to an IPO, today announced that it hired a new chief information officer.

H&M Looks To Big Data For Store Insights


To reduce markdowns and break out of a lull in sales, H&M is turning to artificial intelligence (AI) and Big Data to tailor its merchandising mix in its brick-and-mortar stores. The fashion retailer is using algorithms to gain insights from returns, receipts and data from loyalty cards to improve its bottom lines, according to news source Retail Dive reports. Retail artificial intelligence big data H&M News What's Hot

Breaking Banks: Big Data Use in Real Time Transactions [AUDIO]

Bank Innovation

Next up was data and its use in providing context to the consumer experience. Brett King opened yesterday’s episode of Breaking Banks with the new Citibank report, which suggests disruption will lead to a 30% cut in employees across the retail banking sector.

IBM’s Cognitive Bank: Big Data, Bigger Problems

Celent Banking

Last Wednesday I attended IBM’s analyst presentation on Transforming Banking and Financial Markets with Data. The crux of the presentation was the benefits of big data and cognitive analytics for financial markets. But what were not discussed are the daunting challenges and complexities a bank will face in implementing and managing a big data project. The implementation and ongoing management of data will make or break the success of cognitive computing.

Intuit’s Big Data, Small Business Expansion


Intuit is seeking to expand its QuickBooks unit in two directions: towards small businesses and towards Big Data. To do so, reports added, QuickBooks will also need to step up its data analytics game. “We are using machine learning to help identify the types of data, services and tools that a small business needs,” Pai continued. “And we have lots of data about small businesses because of our many customers.

FinovateFall Day 1: APIs, Biometrics, Big Data Analytics

Bank Innovation

The technology presented ranged from the latest in biometrics, including voice and facial recognition, the latest in how to create insights for big data use–and Read More. It’s that time of year again! Today FinovateFall debuted in New York, where thirty-nine fintech companies debuted their newest toys to an appreciative, fintech-hungry audience.

EU Welcomes Big Data Legislation


As they are connected, the amount of data in existence and being created daily is truly mind boggling. quintillion bytes of data. In almost every industry, data is being […]. Financial Services analytics Big Data EMEAR EU GDPRTechnology is rapidly changing the way we live, work and play. Eight billion devices a year are being brought online. Every day, we create 2.5

Mastercard pokes holes in 'big data' ROI

Payments Source

In an advancing digital age, banks and merchants rarely question the data that advanced analytics and artificial intelligence can provide about their customers' financial and payments habits. But are they using data analytics to its fullest potential? Big data Analytics Payment processing Mastercard

Insurers, Big Data and Changing Consumer Behavior

Let's Talk Payments

It’s not about having data, but what to do with it, right? Data Fintech Insights Insurance Asia Big data Europe insights insurers USRecently, someone suggested a new life insurance product to test out what would be a better fit for.

Big Lenders Need Help With Big Data, Too


Data, Horrocks noted, is today an especially poignant point of friction for financial institutions in the lending process. “Banks struggle with the connection of loan origination data to loan portfolio management data and insights,” the executive explained. ” Financial institutions today are also struggling to connect the dots between all of the ways they use data analytics to mitigate risk and add value to their lending operations, added Horrocks.

$50M Accelerates Big Data Startup Towards IPO


Big Data management firm MapR is looking to go public, but before it does, the company announced a big funding round. 9) said MapR Technologies raised $50 million from several big-name backers. The company provides Big Data management services to the enterprise and recently announced a 100 percent increase in its bookings compared to the year prior. B2B Payments B2B B2B startup B2B venture capital big data ipo MapR What's Hot In B2B

AI, Big Data And Automation Take Center Stage At NRF


During the three-day event, retail industry leaders discussed artificial intelligence, Big Data and automation. Drawing more than 600 exhibitors, the convention featured sessions with leaders from Walmart, Best Buy, Neiman Marcus and other big-name merchants. Retail AI alibaba Amazon automation Best Buy big data china neiman marcus News NRF walmart What's Hot

Big Data: Friend or Foe?

Let's Talk Payments

Big data has become an immense part of any sort of sophisticated decision-making tool for financial institutions. Analytics API Authentication Banking Commerce Cybersecurity Data Analysis Fintech Fraud / Risk Innovation Insights Asia Big data Europe insights US

AI and Big Data: The Yin and Yang of Technical Innovation

Perficient Financial Servies

Arvind knows data, especially big data. Innovation today seems to be driven by data. AI relies on data. Just implementing any kind of artificial intelligence means you need two data sets: A training data set. A testing data set.

Big Data Symbiosis: Using Lessons from Big Data to Protect Big Data


Big data is big news at the moment. data breach, which affected data from over 500 million customers, continues to be discussed by press and public alike, while the role of big data in predicting and even influencing last year’s US election brought the term firmly into.

Treasurers Trust Big Data For Real-Time Risk Assessment


But Big Data lands new capabilities in the hands of corporate treasurers and other executives that yields active, real-time assessments of risks from multiple angles, from counterparties to compliance. A new white paper from treasury management solution provider Hazeltree emphasizes the crucial role metrics and data play in counterparty risk management and mitigation for buy-side treasurers, for instance.

Planixs Taps Big Data Tools Into FinServ


Big Data and analytics firm Planixs is entering further into the financial services market with help from Infor , a company that builds applications for an array of verticals, including FinServ. 1) said Planixs and Infor will collaborate on Planixs’ Realiti solution, a platform that aggregates and analyzes data from external accounts and systems for real-time insight. B2B Payments B2B big data finserv innovation Infor Planixs What's Hot In B2B

75 Big Data terms everyone should know


This article is a continuation of my first article, 25 Big Data terms everyone should know. The post 75 Big Data terms everyone should know appeared first on Dataconomy. Since it got such an overwhelmingly positive response, I decided to add an extra 50 terms to the list.