How advanced analytics are redefining banking: “In search of growth, banks are increasingly analyzing the massive amounts of data they collect to sharpen their decision-making processes. In a new video interview, on mckinsey.com, McKinsey director Toos Daruvala explains how three banks are applying analytics in different ways to gain a competitive edge…
Three related articles, also on mckinsey.com, explore other ways banks are approaching the advanced-analytics challenge.
- Four innovative ways Asian banks can create actionable insights from customer data details how banks are leveraging data to fine tune product portfolios and service levels.
- Ratings revisited: Textual analysis for better risk management shows how sentiment analysis of blogs, analyst reports, and other textual information can enhance the accuracy of credit-rating models with fresh, forward-looking data.
- New credit-risk models for the unbanked highlights the strategies of six innovators who offer low-touch, low-risk loans using nontraditional data.
- For an overview, Making data analytics work: Three key challenges covers the technology, strategy, and organizational issues inherent in any analytics initiative.”