With banks today being extremely customer focused, the need for knowing customers intimately, analyzing costs with surgical precision and evaluating risk scenarios has become paramount. However, analyzing the right data at the right time from the right source in the right measure continues to be a key challenge. Meeting this sub optimally would mean risking the business through wrongly premised decisions.
The need of the hour is a factory approach to analytics where appropriate data, algorithms, compute power and analytical tools are available on a flexible mode, resulting in models that have been devised , tested and validated on smaller samples prior to being rolled out as a service.
Our approach focuses on starting small, be it shortlisting one function like AML, Fraud, LTCV, share of wallet etc., or identifying an area based on stakeholder preference. Subsequently we do the following.
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