LONDON--(BUSINESS WIRE)--Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of their new article on data analytics in finance. With the shifts in technology, regulation and global events, the financial services sector is facing critical issues that have given rise to operational risks, cyber risks, reputational risks, regulatory pressures, and investment risks. It is high time for the largest multinational financial firms as well as smallest community institutions to revisit their plans and utilize their data optimally to extract information necessary for important business outcomes.
By leveraging data analytics solutions, financial services companies can gain real-time visibility into their financial data. Get in touch with our experts to know more.
Why is financial analytics important?
Customer segregation
Financial analytics can help companies to segment customers based on their age, behavior, gender, and interest. This helps in analyzing the spending pattern of an individual customer as well as offering better services to them. Financial analytics helps in uncovering a new set of opportunities that enable companies to identify valuable customers and provide the best financial offers to them to make them feel more valuable.
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Fraud detection
This is one of the biggest problems that the banking and finance industry has been facing. The growing popularity of online transactions have resulted in a rise in incidents of cyber fraud. But by leveraging financial analytics, such incidents can be dealt with effectively. By using data analytics in finance, companies can understand and analyze the spending pattern of customers and their financial history. As a result, security on every unusual transaction can be increased and can help mitigate any fraudulent activity before it grows bigger.
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Risk management
For every industry, risk management is a crucial factor. Risk in the financial services sector can come in any form such as an unrecoverable loan, a failed investment, and fraudulent activities. By leveraging data analytics in finance, companies can detect risks early by analyzing their financial data in real-time. Furthermore, this can help in increasing transparency levels of underlying assets and risk exposure.
Want to know more? Read the complete article here.
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About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
