Sectors going on a digital core can see reduced costs and streamlined processes
Going digital has also affected the workforce, with automation sometimes resulting in layoffs and staff reductions. However, there is a growing demand for data scientists with banking and insurance experience — a skill set not easy to find in today’s market.
Big Data opportunities
Big Data provides significant opportunities for bank and insurance companies to outshine their competition.
Moving data onto a cloud platform offers a 360-degree view of every customer. This profound insight shows banks where they can provide a higher level of service and create more value.
Big Data also allows the use of disruptive technologies like artificial intelligence, the blockchain and IoT to map the customer journey and gain a competitive edge.