Efma has released a new digest that summarises the latest insight on how financial institutions can leverage data to unlock opportunities.
The Holy Grail of Data Strategy: How to leverage new opportunities explores the latest research on the effective use of data in financial services, outlining the largest challenges impacting the industry and offering suggestions for leveraging data to achieve competitive advantage.
“Data is increasingly being seen by financial services firms the world over as a secret weapon in their fight for survival,” said Vincent Bastid, CEO of Efma. “Used correctly, it can unlock a wealth of opportunities – helping banks to get closer to their customers and, through the delivery of more personalised services, significantly increase revenues. This digest aims to equip banks with all of the information they need to succeed. It includes up to date research along with case studies that highlight related success stories and recommendations from experts that work within this field.”
The digest looks at the implementation of new, flexible cloud solutions and the fact that success requires not only new tools, but new people.
“The future will all be about data, and its value will surpass that of gold or silver,” said Datuk Michael Lor, senior advisor for the APAC region, Efma. “Reaching customers just-in-time is a ‘marketing utopia’, and while not impossible, will require big data, beyond the realms of transactional data, mobile device activities, web, and social media.”
To download a copy of The Holy Grail of Data Strategy: How to leverage new opportunities, click here.
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