Data analytics provide various offerings in the banking and finance industry. The amount of data collected in the banking sector is huge and the insights generated from the data can be utilized in various aspects of banking operations. For example, real time fraud detection and risk analytics are some important AI driven offerings which benefits the banks.
On the other hand, reports and dashboards related to various P&Ls, profitability, banking operations, portfolio management, etc. are extremely important from a strategy and monitoring perspective. There are also predictive analytics applications outside of these that help banks automate financial processes and services that they offer their customers and provide internal analytics.