The financial services industry acts as a force multiplier of economic activities, from storing to creating wealth and providing access to credit. It has always strived to evolve with the changing needs of the consumer, and the digitization of financial services has been an ongoing process for the past few decades. Financial services can no longer offer generic solutions that target a wide range of consumers. Be it an individual working in a multinational corporation or a student, a neighborhood business, or a large-scale enterprise catering to a global populace, each client's needs are unique.
To address this diversity, institutions are consuming data from multiple sources inside and outside the enterprise. These include structured data from sources like enterprise systems, market systems, and government databases, as well as unstructured data from social networks and media. |
