Data strategy

Jeff Banks intends to give bank staff easier access to data and clearer insights they can use to make decisions.

The bank is predicting a $450 billion “value pool” of data from vehicles by the end of the decade, with the information gleaned encompassing everything from driving patterns to coffee purchases.

Consumer savings are up, yet so are evictions. Banks need to reach out more to those who are struggling financially, and they could use data as a guide.

A three-stage plan combining data analysis, public disclosure and market-based regulatory intervention would better align financial services with what consumers really need.

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

Banks are increasingly sharing data and must brace for new regulations protecting that data.

The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework.

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.