How banks can use data effectively | editor's picks

This editor's picks is all about the sexy world of data solutions and specifically how banks can get ahead using data correctly. Since 2015, we've seen many data enrichening technologies mature into mainstays in the banking technology landscape. 2018, as well as 2017, will be equally as important as greater data capability adoption become widespread …

by | March 16, 2018 | bobsguide

This editor's picks is all about the sexy world of data solutions and specifically how banks can get ahead using data correctly. Since 2015, we've seen many data enrichening technologies mature into mainstays in the banking technology landscape. 2018, as well as 2017, will be equally as important as greater data capability adoption become widespread across the financial services.

 

Open Banking and data protection: friend or foes?

 

The first half of 2018 sees the implementation of two major pieces of regulation – the Payment Services Directive (PSD2, which went live in January 2018) and the General Data Protection Regulation (GDPR, going live in May 2018), both laying important foundations to pave the way for a better and brighter digital economy. 

 

Key data projects for banks in 2018

bobsguide's Dave Beach caught up with data infrastructure architects DataStax to learn more about the challenges and opportunities financial services will face in regards to data in the next 12 months. Martin James, Regional Vice President at DataStax, talks through how the crossover of technologies in other industries might be applied to banking in practice.

 

Why structured data is the key to AI for banks and insurers

While financial institutions are still in the early stages of adopting AI technologies, intelligent machines are expected to become the most defining tech for the future of institutions in the financial services and insurance industries. In fact, estimates suggest that 75% of insurance executives believe that AI will either significantly alter or completely transform the insurance industry by 2020. Moreover, one-third believe that their own company will be completely transformed by AI within that timeframe.

 

“People say data infrastructure might not be sexy, but get it right, and you’ll go far”

Billy Bosworth, CEO of DataStax, sat down with bobsguide to talk about the past, present and future of data challenges and how a bit of forward thinking can stave off the worst of regulatory compliance.

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