Banking

Banking institutions use data to reshape customer segmentation into a solution that works best for both the customer and the bank. Data analytics allows banks to examine large data sets to find patterns in customer behavior and preferences.

Identity fraud is one of the fastest growing forms of theft. With more than 16 million cases of identity theft in 2022, fraud protection is becoming increasingly important in the banking industry. Data analytics helps banks secure customer account information.

Business intelligence (BI) tools are used in banking to assess risk and prevent fraud. The information obtained from these tools determines interest rates according to your credit score and pinpoints fraudulent behavior, as well as helps to understand market trends, inform personal and industry-wide financial decisions, such as increasing debt control rates.