It’s Time for Financial Services to Bank on Data Observability

The Finserv market is at a crossroads due to the COVID-19 pandemic and recession, with neobanking shaking up traditional banking norms. Financial institutions can leverage their existing data assets for critical insights into processes, product market acceptance, and risk management. By analyzing operational, transactional, social media sentiment, and customer satisfaction metrics, banks can improve customer experiences, optimize processes, eliminate redundancies, and mitigate risks resulting from human error. Artificial Intelligence (AI) is playing a significant role in this transformation, with global banking players investing heavily into future technologies like AI. Banks are leveraging data to evaluate credit risk, manage treasury operations, improve marketing and sales efforts, enhance security and payment operations, and ensure Data Observability. By adopting proactive approaches to data analytics and using multidimensional Data Observability solutions like Acceldata's, financial institutions can maximize the value of their tech investments and achieve business success through optimized data pipelines.