APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    Analytics Intelligence in Open Banking

    Open banking is a phenomenon that’s captivating the minds and thoughts of data analysts, commentators, consultants, and the general public.  

    Analytics Intelligence in Open Banking

    By

    Apac CIOOutlook | Thursday, January 01, 1970

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    Open banking is a phenomenon that’s captivating the minds and thoughts of data analysts, commentators, consultants, and the general public. So far much of the benefits of sharing data with third-parties, concerns over data privacy and information related to technology and electronic security have been heard of. 

    Analysts are interested in obtaining processed information which helps them in decision-making. When a customer has transaction information and elementary product and pricing knowledge, the relationship manager at the bank sells the customer products and, in return, he gets a higher sales commission. Most of the customers find it complicated to compare the product and pricing across the banks, and they give up midway. The customer expects the Third Party Provider (TPP) to provide simple and meaningful information on a user-friendly front end. For example, the TPP must notify the customer about getting the best ROI and lowest price on their overdrafts. The customer must be able to define his goals, both short and long-term. The consequential outcome must suggest him on spending pattern, and likewise, a saving pattern is made.    

    TPP has the responsibility to meet the requirements of a customer who sanctions the sharing of account information. Taking a look at the data assets possessed by TPP helps in understanding, to meet such expectations. There are three different datasets. First is the essential data transaction made by the customer, which is genuine and accurate. Second are the final products and services followed by pricing information. This, itself is a strong base for analytics. The customer adds the related personal information and selects a suitable demographic profile to set goals. The final requirement is a predictive ‘what if’ scenario contingent on data assets and customer information. The entire procedure is reflective of Personal Financial Management (PFM) tool.

    More in News

    Real-Time Insights Fueling Smarter Brand Strategies

    Real-Time Insights Fueling Smarter Brand Strategies

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Enhancing Customer Satisfaction through Omni-Channel Payments

    Enhancing Customer Satisfaction through Omni-Channel Payments

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/analytics-intelligence-in-open-banking-nwid-5151.html