How advanced analytics are redefining banking

Drive revenue, reduce risk

Data and analytics provides a few very big opportunities for banks. At some level, actually, you can think of it as a way to transform the institution, much the way in the 1980s and 1990s and early 2000s IT and systems basically transformed every single bank in terms of how you apply IT to different business processes from a cost-reduction standpoint, from a revenue-generation standpoint, et cetera. I think in the same way, you’ll find data and analytics transforming institutions.

Full Story: http://www.mckinsey.com/insights/business_technology/how_advanced_analytics_are_redefining_banking

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