The bank is certainly one of the sectors where companies hold the most information on its customers: private situation, salary, spendings, propensity of savings, favourite retailers… But not only. Thanks to the mixing of structured and non structured data (publications on the social networks, emails, history of purchases on e-commerce web site, etc.), Big Data enables the banks to have a true analysis of the life of their customers day after day, for to better understand their behavior and to anticipate them.

When the customers complain about too much standardized products, the banks can propose to them then effectively accurate, ultra-personalized advices, and are able to recommend to them financial products targeted according to their specific needs. We pass from the classic marketing based on partial and often obsolete information, to the predictive marketing based on "fresh" data.

But the use of Big Data has to be much more than a simple alternative of the transactions made in agency. Banks must also know how to build a successful, responsible, and ethic exploitation  of the collected personal data. The data of the customers have to be used for optimizing marketing or otherwise to detect risk behaviors for the bank.

To note: more and more software of fraud detection have integrated Big Data into their strategy.

By INI consortium/ October 2017