Whitepaper: Banking on Big Data
Author: Shailesh Karia
Shailesh Karia was a Group CIO, Continental Europe at Deutsche Bank and has been a transformation Leader with over 30+ years of experience working with global Investment Banks and Consultancy. He has lead multi-million dollar programs and has a thorough banking industry/products background with deep technology knowledge, including Big Data. He has a proven track record for delivering multiple transformation programs, regulatory driven initiatives, and acquisitions programs in well-connected European market.
Banking On Big Data
This whitepaper explores the concept of Big Data, its history and how it is being leveraged by banks and financial institutions to obtain value from their data.
Big data is the main focus in the IT plans of most financial institutions. As the financial sector becomes increasingly competitive, the value contained within their data sets can determine their success or failure. Their data is increasing rapidly, coming from multiple sources and the traditional tools to analyze and manage this data are largely incapable to cope with the current growth. Big Data is marketed as the solution to address various banking, regulatory, compliance and financial challenges but the true power of technology lies in the value addition it brings to an organization.
Let us understand how and why Big Data technology plays a pivotal role in the banking and financial sphere.