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GFT UK Office Office

GFT Financial Limited. 9th floor, 107 Cheapside
London
EC2V 6DN
GB

GFT USA, Inc Office

261 Madison Avenue, 19th Floor,
New York City
NY 10016
USA

GFT Brazil Office Office

GFT Brasil Consultoria Informática Ltda. Alameda Rio Negro, n° 585 Ed. Padauiri,
10° andar, Alphaville,
06454-000 Barueri -SP
Brazil

GFT Belgium Office Office

GFT Technologies Belgique AS, Square de Meeûs 35,
1000 Bruxelles
Belgique

GFT Canada Office Office

GFT Canada Inc. 70 University Avenue, Suite 1460,
Toronto,
Ontario M5J 2M4
Canada

GFT China Office Office

GFT Technologies Hong Kong Ltd. Lee Garden One, 33 Hysan Road,
Causeway Bay,
Hong Kong
CH

GFT Cost Rica Office Office

GFT Costa Rica S.A. Edificio 1B Ultrapark,
La Aurora Heredia
Costa Rica

GFT France Office Office

GFT France SAS, 12 rue Alsace Lorraine,
79000 Niort
France

GFT Germany Office Office

GFT Technologies SE Corporate Center, Schelmenwasenstr. 34,
70567 Stuttgart
Germany

GFT Italy Office Office

GFT Italia S.r.l. Via Sile, 18.
Alphaville20139 Milano
Italy

GFT Mexico Office Office

GFT México S.A. de C.V. Calle Gobernador Agustín Vicente Eguia 46, 6º Colonia San Miguel Chapultepec. 11850 Mexico City
11850 Mexico City
Mexico

GFT Poland Office Office

GFT Poland Sp. z o.o. ul. Kilińskiego 66,
90-118 Łódź
Poland

GFT Singapore Office Office

GFT Technologies Singapore Pte. Ltd. 71 Robinson Rd.
068895 Singapore
Singapore

GFT Spain Office Office

GFT IT Consulting, S.L.U. Avinguda Alcalde Barnils, 71.
08174 Sant Cugat del Vallès
Spain

GFT Switzerland Office Office

GFT Schweiz AG. Baumackerstrasse 24.
8050 Zurich
Switzerland

GFT Vietnam Office Office

GFT Technologies Vietnam Limited. Room 02-115, 2nd Floor, Lim Tower 3, Number 29A, Nguyen Dinh Chieu Street,
Da Kao Ward, District 1
Vietnam

Telephone

T +44 20 3372 9200

Contact

Tim Osler / Dawn Blenkiron / Benjamin Tranham
[email protected] / [email protected] / [email protected]
Back to all GFT announcements

GFT presents the big picture of harnessing big data in banking and insurance at CeBIT

Big data is taking financial services companies farther from risk, closer to customers 

It’s on the tip of everyone’s tongue, yet there is still mystery surrounding the use of big data in practice. GFT Technologies AG, one of the world’s leading providers of IT solutions for the financial sector, wants to change this. At the upcoming CeBIT in Hanover, GFT will use specific applications to demonstrate when and where big data can make the biggest difference for financial services providers. Visitors will experience first hand how banks can use big data to offer customers faster credit on better terms and conditions, without incurring greater risk. Other case studies relate to fraud detection/prevention and churn management - both tools which can be used to hinder customer attrition.

“Financial services providers typically deal with the processing and analysis of large volumes of data on a regular basis,” states Marika Lulay, Chief Operating Officer at GFT. “Thanks to big data, they can now derive more targeted information from their data more quickly than ever. Analysis that previously would have taken weeks is now at their fingertips within minutes. The possibilities are tremendous and the solutions can be customised to the particular circumstances for better decision-making in real time.”

GFT is illustrating just what this looks like in practice with a series of concrete application scenarios at the largest IT trade show in the world – CeBIT. There, financial services providers will discover the answers to questions like:

  • How can I determine which credit conditions I can offer my customer during the actual consulting session?
  • How can I protect users of my bank’s payment cards from criminals?
  • How can an analysis of the relationships between the parties involved in an insurance transaction be used to anticipate fraudulent claims?
  • How can I prevent my customers from switching to another bank?

To tackle these challenges, GFT relies on various analytical methods like scoring models, or adaptive methods to recognise suspicious behavioural patterns or correlations. Using modern big data technologies such as SAP Hana and Hadoop can enhance the reliability of these types of analysis. These enable users to gain detailed insights in real time – on the basis of significantly more extensive data volumes from a broad variety of sources.

In the forefront of the entire debate is data security, as data confidentiality is a top priority throughout the financial services industry. “Banks and insurance companies traditionally set extremely high data security standards. From our experience working on countless big data projects in investment and retail banking at GFT, we can say without reservation that this is the case with big data as well,” states Lulay.

Cardinis international launch
In addition to showcasing big data solutions at CeBIT, GFT will also introduce international trade visitors to a project and portfolio management software package called Cardinis. GFT Italia developed the suite, which is currently only available in Italy. It offers extra support and management assistance with any kind of company project, helping identify the links between projects and providing managers with a continual overview of costs, risks and interdependencies. Cardinis is one of the few European project management solutions to have made it into Gartner’s Magic Quadrant.