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Banking

Banking is one of the most complicated industries considering competition, risks and regulatory control. The list of the problems banks face increases regularly but the number of possibilities to solve them using simple instruments reduces. Escalating competition and instability of the world economy force banks to reconsider their strategies and approaches to business dealing.

Automation of bank operating activity increased the speed and reliability of front- and back-offices operation, improved the quality of services, allowed to satisfy clients’ requirements to the full extent. Nowadays automation is just a tool supporting business processes but it is not a competitive advantage in itself. Everything changes when it comes to the results of automated systems operation, particularly, to the information accumulated every day in data warehouses. It is the information that withholds critically important knowledge of what happens and why it happens, how the events will develop, what measures shall be taken.

Advanced analytics and the knowledge extracted with its help are widely used to solve various applied problems of the banking industry: beginning with creation of new products, scoring and reserves formation to anti-money laundering and regulatory records drawing up.

Irrespective of the size and specialization (mono- or multi-liners, investment, mortgage, etc.), advanced analytics allows to increase the overall operating efficiency significantly, manage risks better, take and turn into life strategic decisions faster.

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