The Data and the Future of Financial Services Virtual Summit 2021

Financial services companies have been investing heavily for more than a decade in data collection and processing technologies in order to realise the potential competitive advantage inherent in the enormous data sets that they have accumulated and to improve their offerings to customers. They have developed sophisticated tools such as customer analytics, real-time analytics and predictive analytics to assist them in reaping these benefits. However, a number of change drivers are now reshaping Big Data: the explosion in sustainable finance has created an urgent need for climate change-related data; the Covid-19 pandemic has catalysed the transition to digital finance; the IoT is also increasing the amount of input data; incumbent FS providers are facing fierce competition from nimble fintech players unburdened by legacy systems; new technologies are becoming available for processing the ever increasing amount of data.