Big Data Analytics in Financial Services: Generating Actionable Insights
Big data analytics is not a new phenomenon. However, many financial services companies are still in the early phases of adoption and face challenges securing talent and expertise in this area.
tryb hosted an exclusive breakfast session with the tryb community on big data analytics in financial services. The event included a panel of experts discussing use cases, implementation challenges and cutting-edge techniques. The panel was moderated by Veiverne Yuen, Managing Director (tryb) and included the following panelists:
- Michelle Katics, Co-Founder & CEO (Portfolio Quest)
- Jason Strimpel, CIO (COFCO International)
- Liu Feng Yuan, Director – Data Science Division (GovTech Singapore)
The panel discussed practical insights on privacy and potential use cases with respect to trading, anti-money laundering (AML), fraud detection and large public infrastructure problems. They debated the usefulness of “real-time” data and predictive models in the face of growing anomalies.
Our panel agreed on three high-level questions one must ask before taking the leap and investing into the relevant technologies:
- Do you really have a big data problem now or will you have one in the future?
- Is your big data problem a business problem and would solving it lead to better business outcomes?
- What is the return on investment in implementing the technology and hiring the required talent?