Regulators eye big data impact on ratemaking

Daily Fintech

In insurance, big data connotes unstructured and structured data that influences underwriting, rating, and pricing. Structured data gets stored as pre-defined fields and tables, while unstructured could be social media, recorded videos or documents.

Four opportunities for CFOs and big data

Accenture

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 dataThe sheer volume can be overwhelming… unless you know how to use it. Read more.

Big Data And Analytics Save Subscription Firms From ‘Involuntary Churn’

PYMNTS

So is being able to understand their preferences — in a way that makes the customer feel comfortable, where they have the choice of what data they want to share and don’t want to share.”.

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 BankAs complex as these datasets can be, they hold valuable information for financial institutions and are spurring financial services investments.

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.” DataBank Databank Big Data NEwvantage Partners

Reading Predictive Tea Leaves With Smart, Big Data

PYMNTS

However, as Cam Brown, CEO of PredictHQ , told Karen Webster, the key is to find “smart” data buried within the Big Data. As Webster noted, only slightly tongue-in-cheek, there’s data on top of data: flight data, tracking data, pricing data, currency fluctuations and even pollution data. The PredictHQ platform aggregates and verifies about 2 billion data points across a single “global events” application programming interface ( API ).

How CFOs can benefit from big data

Accenture

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. Managing Risk Featured CFO big data big data CFO benefit

Business Writing Gets A Boost From Big Data

PYMNTS

Virtual mountains of data are accumulated and analyzed via web-enabled and mobile devices, with the speed of that process getting faster and faster (and faster still with new 5G mobile network technology deployments). Excuse the verbosity, but there is a point: Digital technology and big data are transforming one of the most ancient forms of communication, writing – and in a way that could impact pretty much every business within a decade or so.

XBRL News: BIS on regtech, 2021 SEC taxonomies and big data for credit

Daily Fintech

The post XBRL News: BIS on regtech, 2021 SEC taxonomies and big data for credit appeared first on Daily Fintech. XBRL big data BIS Regtech xbrlHere is our pick of the 3 most important XBRL news stories this week.

Big Data Firm Palantir Prepares For Potential IPO

PYMNTS

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. Founded in 2004 by CEO Alex Karp and venture capital tycoon Peter Thiel, Palantir specializes in Big Data, working with major corporations and government agencies to crunch large volumes of information. IPO big data filing Investments ipo News palantir SEC What Is Investing?

Big Data: ‘Strategic Spaghetti’ For Retailers

PYMNTS

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.

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. ALM and LR analytics require large volumes of data that traditional infrastructure struggles to handle. Financial institutions then must pool data and use other tricks to push data through existing ALM systems to get weekly results at best.

Can Spotify And Metallica Localize Live Shows With Big Data?

PYMNTS

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.

Triggering (Actionable) Big Data Insight, Always In Motion

PYMNTS

Value-added data in motion? DataTorrent ’s Jeff Bettencourt, SVP of marketing and business development, said traditional attitudes surrounding information are such that firms collect data, store it in a central location and then “extensively poke at that data to get the information you want,” which is, in turn, used by management to help make business decisions. The fresher the data, the faster you can get insight and take action. Poetry in motion? Maybe not.

Big Data For Big Returns At Retailers Big And Small?

PYMNTS

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 takes aim at COVID-19 chargeback fraud

Payments Source

With the globe pivoting to e-commerce during the ongoing coronavirus pandemic, an array of new opportunities have arisen for fraudsters, and merchants have found themselves being increasingly hit by different forms of chargeback fraud. Fraud Chargebacks Coronavirus

Kubernetes Meets Big Data

Dataconomy

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. This data must be collected, deciphered, shared, and acted upon. The post Kubernetes Meets Big Data appeared first on Dataconomy. Big Data Contributors Featured Understanding Big Data

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.

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

H&M Looks To Big Data For Store Insights

PYMNTS

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

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

PYMNTS

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.

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

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

Cisco

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

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

PYMNTS

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

PYMNTS

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

PYMNTS

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

Planixs Taps Big Data Tools Into FinServ

PYMNTS

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

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

Accenture

Banks are relying more and more upon Big Data and analytics to transform their distribution and marketing strategies. Everyday Bank Featured banking innovation Big DataIn our research into how high-performing companies (those that deliver above-average business performance on a consistent basis) approach analytics, we found that. Read more.

Treasurers Trust Big Data For Real-Time Risk Assessment

PYMNTS

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.

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. Joan Kuehl, who is the online lender’s first CIO, has extensive experience, having worked at Travelers and Bank of America — so it deserves notice when her first pronouncements Read More. Compliance Innovations Lending Online Retail Risk Security Startups Bank of America CFPB CIO Elevate IPO lending compliance marketplace lending online lending Travelers

Big data analytics and cybersecurity take center-stage in payments systems

Accenture

Some big themes dominate Payments today, and each is likely to endure for many years. Sibos 2015 in Singapore brought them into sharp focus – specifically: Big Data Analytics, Cyber-security, Bank & FinTech Hubs, Cryptocurrencies/Blockchain Technology, Trade Finance and APIs. Future of Banking Featured Big data analytics cybersecurity payments systems

Can Big Data Help Provide Affordable Healthcare?

Dataconomy

Big Data and AI can help with the growing care provider shortage. The post Can Big Data Help Provide Affordable Healthcare? Artificial Intelligence BI & Analytics Big Data Contributors Data Science Featured artificial intelligence artificial intelligence for healthcare big data in healthcare healthcare US healthcareHere is how and why.