DATA ANALYTICS IN THE BANKING SECTOR | Sankhyana Consultancy Services
The banking industry is one of the largest and important industries in India. A massive amount of data is generated and stored day in and day out. Previously banks were not able to utilize this data. Nowadays, most of the banks are using Data Analytic tools to analyze the data, which helps them to monitor the accounts of their customers, stop fraud detection and prevention....and many more things as well.
• Axis bank uses SAS to measure and mitigate risk: It is the No. 1 Private Bank in India. SAS is used to improve risk management throughout the organization and helps them to take the best possible business decisions. They are also using SAS to build fast track multi-level in the organization. SAS guides them to derive meaningful information from huge sets of data which helps them to make better risk decisions.
• HDFC Bank uses SAS Analytics to streamline cross-selling It is the 2nd largest Private Bank in India. HDFC Bank uses SAS Data Integration and SAS Anti-Money Laundering (AML) to capture and organize customers’ activity. SAS Analytics helps them to integrate with the customer and speculate with a 360-degree view. It helps them to decide whether they should seek for overleveraging or under leveraging. It also helps them to know about the behavior of the customer while using their services. SAS tools are extensively used for market analytics and credit risk analytics in HDFC Bank. • SAS Business Intelligence unifies reporting at ICICI Bank It is also one of the top Private Bank of India. SAS BI provides them vast business enterprises to gain market share and enhance competitive edge with faster access to intelligence. With the help of the SAS Data Integration server, it is possible for them to integrate their data sources across the enterprise.
• SAS Visual Analytics impresses management at Union Bank of India It is one of the fastest-growing private banks in India. They have rolled out Internet banking, mobile banking, etc. All alternate delivery channels have been deployed after core banking implementation. This has enabled their existing customer satisfaction and retention as well as attracted new younger aged customers for the bank. They have seen quite an uptake in their usage of delivery channels. With the help of SAS Visual Analytics, decision making has become very fast. And instead of PM managers analyzing the data themselves, based on the rules, they can give them the kind of decision support.
• Federal Bank is using SAS Analytics for its customer satisfaction It is also one of the fastest-growing private banks in India. They are using SAS to meet the needs of the customers and manage operational and credit risk. They are using SAS to enhance data management within the bank. SAS helps them for better address and a number of regulatory needs and requirements. SAS provides Federal Bank a platform where they could collect the information and identify that who are their better customers, with whom they are doing a profitable business and who are extracting money from them.
As you can see the impact of Data Analytics in the banking sector. If you want to make a great career in this sector, then Analytical skill is a game-changer for you. We are providing top Analytical courses like SAS, Machine learning and many more, which will help you to make a career in this domain.