The Rise of Advanced Analytics in the Banking Industry

Sep 11, 2017

The banking industry is highly data-intensive with large amounts of customer and credit processing data that can be analyzed with the help of advanced analytics. With increasing competition in the banking industry, the key to gain higher market shares and build a loyal customer base that drives profitability is to understand customer needs and preferences. Organizations in the banking industry can leverage data mining, data cleansing, and advanced analytics techniques to analyze customer data, develop risk management and mitigation strategies, and minimize fraud. Today, the main objective of the key players in the banking industry is to understand their customers, predict their demand, and deliver products efficiently.

Request a free proposal to learn how you can leverage Quantzig’s advanced banking analytics solutions to manage market uncertainty, minimize fraud, expand customer base, cross-sell and up-sell products, and capitalize on new banking opportunities and trends.

Why Does the Banking Industry Need Analytics?

The banking industry professionals believe that they must leverage advanced analytics techniques to fulfill their top priority of meeting consumers’ demands and improve customer satisfaction. Why so, you ask? Here’s why. Due to several reasons such as adhering to regulatory and compliance reforms, improving risk management strategies, and developing effective new market entry and expansion strategies, the banking and financial services industry has realized the capabilities offered by analytics. Banking and analytics are a combination that helps banks improve their customer segmentation and product positioning strategies.

Advanced Analytics in the Banking Industry

Many banks in the banking and financial services industry are headed towards big data and advanced analytics by adopting sophisticated technologies and tools. Advanced analytics helps in determining accurate metrics and KPIs to effectively measure the overall performance, which helps the organizations to fulfill their objectives, build a loyal consumer base, and drive profitability. Through data mining techniques and predictive analytics, banking organizations can make use of the available consumer data including transaction history to gain actionable insights that help to accurately forecast the demand. Additionally, the Basel II treaty emphasizes that the banking and financial services industry should adopt intelligent credit management technologies and tools to minimize risk exposure and manage market uncertainty. Advanced analytics in the banking industry helps organizations to build a loyal customer base, expand their market shares, and ensure bottom-line profitability.

Contact our analytics experts to know more about advanced analytics in the banking industry.

Related Articles

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Emerging Applications of Artificial Intelligence in Medicine

Emerging Applications of Artificial Intelligence in Medicine

The main aim of artificial intelligence in medicine is to mimic human cognitive actions which is directly or indirectly bringing pioneer changes in the field of healthcare. Artificial intelligence in healthcare simplifies the processes of healthcare organizations as...

read more
HR Technology Trends Redefining the Modern-Day Workforce

HR Technology Trends Redefining the Modern-Day Workforce

In 2020, we witnessed rapid changes in workplace structures and business processes amid the pandemic outbreak. Advanced HR analytics solutions proved their potential amid the uncertainties by playing a crucial role in helping businesses understand and engage with a...

read more


Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.


Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.