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With the information demands of the 21st century, changing bank core systems will be mandatory.
Community banks can make Big Data work for them if they carefully discern the relative value of different kinds of data and make sure culture and data work hand in hand.
Since so many of banking’s ‘pain points’ relate to information technology, is the industry at risk of becoming just another technology shop?
New players in P2P finance and commercial crowdfunding utilize social media to leverage knowledge to improve financial returns.
Sentiment analysis and predictive analysis are two specific applications that financial institutions can evaluate in their efforts to extract value from the tantalizing promise of Big Data.
Efficiency gains in loan origination and servicing requires removing manual processes and paper documentation.