The analysis in this report is based on a March 2021 Banking Report Survey of over 200 representatives from across global banks and credit unions.
In this paper we explore how financial institutions need to build a strong data and information strategy. Big data, analytics and processes are the backbone of a strong digital transformation strategy. Data maturity is about using data and advanced analytics to answer business questions and deliver value to the consumer. Without deployment of insights across the organization, most of big data’s value never materializes.
“Never before has the management of customer information been more important to the success of financial institutions. A strong data management strategy must extend beyond marketing systems, providing all team members with more intelligence to communicate better and provide superior customer experiences”. Jim Marous, Owner and CEO, Digital Banking Report Host, Banking Transformed Podcast.
We hope the insights in this paper will help many organisations to proceed aggressively in the pursuit of improved decision making and enhance their customer experiences.