Big data

New tech-focused programs for employees can help banks evolve from within.

Community and regional institutions' survival could hinge on their ability to access large troves of data.

The lumbering pace of product development is one of the typical drags on large bank technology firms, while nimble startups can seemingly launch new offerings overnight.

There are a number of actions financial institutions should take to improve their application of machine learning and data analytics technologies.

The U.S. car rental industry has frustrated many young adults for years with special restrictions and credit checks for customers under who try to pay with a debit card. But big data is bringing some relief.

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.

Coca-Cola Co.’s ‘Share a Coke’ campaign saw the beverage maker turn to Experian to help it pick the most popular names among likely soda drinkers in Britain, and printed them where its iconic logo is usually placed.

As the concept of smart cities — urban settings undergoing a digital transformation through "internet of things" technology and connected platforms — evolves, so too will the concept of making a payment.

After incorporating big data, tweaking existing products and reducing barriers for new members, the Mass.-based credit union saw increased checking usage, more deposits and higher PFI levels.

An effective data analytics strategy could require rethinking all your institution's processes and touch points.

A recent report from Best Innovation Group reveals a significant number of credit unions don't have a data analytics plan, and many that do are putting off spending money on it.

To personalize products and services, banks are now tracking all sorts of alternative data sources, even the manner in which customers type in mobile banking apps.

Envestnet|Yodlee wants accessing data to be as simple as selecting a song to play, while bringing institutional analytic power to the bank branch level.

Fintech developers are trying to monetize data without scaring away privacy-conscious consumers — and, increasingly, to make sure bigger financial companies don't overstep the same boundaries.

Two of the credit union movement's biggest names are teaming up to help CUs better tackle big data.

Technology developers have little choice but to see big data deals like Mastercard’s reported collaboration with Google as an opportunity for deep, actionable analysis, setting aside the chilling effect of privacy concerns and a consumer buy in.

While the card networks have greatly benefited by the global boom in e-commerce, they are confronted with the corresponding growth in digital advertising. This will increasingly lead them to seek out data-sharing deals like Mastercard's reported arrangement with Google, which could prove vital to the networks' future survival.

The acquirer OLB Group is positioning itself as a data steward for a future in which merchants will have predictive data to inform decisions on financing.

With Walmart reportedly weighing bids from Capital One alongside incumbent Synchrony Financial to handle its private-label credit card account, Synchrony's use of data and artificial intelligence are more important than ever.

Credit unions know they need big data, but many aren't sure what to do with it.