The role of Data in the future of Financial Services - A five to ten years horizon
Financial Services is a fascinating industry. Many legacy banks boast long histories — going back hundreds of years — having managed to survive historical, societal, economic, and technological change with what seems like amazing tenacity and flexibility. Today, their resilience is still being put to the test as the banking industry is changing more rapidly now than ever. This is driven by unprecedented shifts in consumer driven behavior, intensified competition, and radically increased regulatory oversight.
To maintain profitability, banks are transforming themselves to become more efficient, in control, trusted, agile, and digital—all underpinned by improved analytical capabilities. Technology is an enabler of change, offering the ability to effectively harness data and analytical capabilities. Data are the New Oil and Analytics are the New Engines of the Digital Financial Services business models.
Teradata Vantage leverages all of the data, all of the time, so you can analyze anything, deploy anywhere, and deliver analytics that matter. By providing Answers to the complexity, cost and inadequacy of today's analytics, Teradata is transforming how businesses work and people live.