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

    Ensuring Secure Banking with High-Tech Solutions

    In the banking industry, data plays a very vital role. AI-based bots are powering almost every data-related operation.  

    Ensuring Secure Banking with High-Tech Solutions

    By

    Apac CIOOutlook | Friday, May 24, 2019

    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.

    FREMONT, CA: In the banking industry, data plays a very vital role. AI-based bots are powering almost every data-related operation. This in-return helps in enhancing operational capability and decreases risks. The impact of data is adequately highlighted by studying the advancements in consumer credit. Banks do prefer relying on credit scores, which were, traditionally, based on a narrow range of slow-moving data points. This approach can bring two significant constraints. Firstly, slow decision making as the banking sector does not have a complete view of the consumer's financial health. Secondly, the consequences can create thin files on customers who have an aversion to debt. Use of consumer credit has been solely contrary in many countries. To blacklist people who have made late payments, banks tend to use this model.

    Check out: Top Retail Banking Companies

    Based on integrated data, banks are now basing their lending and risk management decisions. Debt repayment information is being combined with near real-time transactional and account balance data to get through risk, assessment models. Banks can access risk patterns from past behavior to sense future changes, instead of relying on the percentage of available credit used. Data can be practiced to tailor sales and marketing intercommunications. It helps the banks form a detailed view of the customer's worthiness. It helps in customizing sales messages and products for benefiting the increase in service-savvy customers.

    The volume, velocity, and range of data types can technically exceed the capabilities of traditional technologies. Unstructured data are usually not suited to former IT approaches and first generation Big Data technologies. In order to overcome this situation, banks are now adopting machine learning, where predictive models uniformly train themselves based on streams of data. Machine learning helps in distinguishing nuanced details for improved results. Success will rely on cultural change. The central role of data brings new risks. Governing and organizing an analytically-driven business is what people need to understand. Certain risks might, however, be external. Rather than stealing the data, the hackers are now attempting to discredit an organization by corrupting it subtly. The banks need to ensure that the best security technology is at their disposal, to remain competitive. This includes authentication that can confirm a consumer's identity. With high-tech adoptions, banks can ensure that their tomorrow is secured.

    See Also: Financial Services Review

    More in News

    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

    Influence of AI on Supply Chain Management

    Influence of AI on Supply Chain Management

    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/ensuring-secure-banking-with-hightech-solutions-nwid-6378.html