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

    Business Intelligence Fostering a Paradigm Shift in Banking Sector

    The banking sector is challenged not only by FinTech companies but also by the regulators. Banks are being keenly observed by regulators like FDIC, FRB, and OCC since the 2008 crisis. Banks were made to strictly adhere to the compliance rules adopted  

    Business Intelligence Fostering a Paradigm Shift in Banking Sector

    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.

    Since the pre-digitization of industry, the banking sector has been a competitive environment. With growing digitization owing to the impact of financial technology, the competition has become tougher. FinTech companies are to banks, what Uber is to the taxis.

    The banking sector is challenged not only by FinTech companies but also by the regulators. Banks are being keenly observed by regulators like FDIC, FRB, and OCC since the 2008 crisis. Banks were made to strictly adhere to the compliance rules adopted post-crash.

    All these requirements need to be reflected in competitive business intelligence solutions. The banking sector needs to adapt flexibility and transparency in the competitive and regulatory environment. It takes scalability to keep up with the growing digitization of the industry because most of the clients fail to remember when they last walked into a bank. Modern bankers need to be smart enough to drive feasible operational and financial decisions. The conventional means of spreading out data across multiple graphs, Venn diagrams, and pie charts seem an unfeasible approach.

    Certain trends and tools that transform business intelligence in banking sector includes robust toolkit, Artificial Intelligence (AI), specialization, data people in the spotlight, Internet of Things (IoT), security, equilibrium for banking, data sources, managing data, preparing data, building models, managing models, and consuming business intelligence.

    The banking industry is being taken over by Artificial Intelligence and particularly machine learning. There is also cost and benefit analysis involved. According to Goldman Sachs, Artificial Intelligence will render up to $43 billion savings by the financial year 2025. Not many banks can pass on that. So, all the major banks in the U.S. are investing heavily in AI and Machine Learning.

    Owing to the trends and changes, implementing Business Intelligence isn’t possible without data professionals, and there has been a growing demand for data engineers over the last couple of years. There is a more promising situation for data scientists. Data enthusiasts can embark their career in banking, as more banks are exploring advanced algorithmic trading systems and other tools that can help them in checking their investment risks. These professionals are responsible for the proper data storage, accessibility of data, and analysis.

    See Also: Financial Services Review

    More in News

    Harnessing Big Data Analytics to Enhance Business Strategies

    Harnessing Big Data Analytics to Enhance Business Strategies

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    Impact of Digital Transformation on Retail

    Impact of Digital Transformation on Retail

    Salesforce Services in APAC: Empowering Digital Transformation Across the Region

    Salesforce Services in APAC: Empowering Digital Transformation Across the Region

    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/business-intelligence-fostering-a-paradigm-shift-in-banking-sector-nwid-5227.html