Big Data Analytics In Banking Market 2022 Strategic Assessment with Business Scope- Oracle Corporation, SAP SE, IBM Corporation, Alteryx Inc., Aspire Systems Inc., Adobe Systems Incorporated

The report considers the present scenario of the Big Data Analytics In Banking Market and its dynamics for the forecast period 2022-2026. Big Data Analytics In Banking Market covers a detailed overview of several growth enablers, restraints, and trends in the market. The research report highlights the market’s current and potential key opportunities along with crucial insights.              

The Big Data Analytics in Banking market is expected to register a CAGR of 22.97%, during the period of 2021-2026.

The Big Data Analytics In Banking market is highly competitive and consists of a number of major players. Companies like Oracle Corporation, SAP SE, IBM Corporation, Alteryx Inc., Aspire Systems Inc., Adobe Systems Incorporated, Microstrategy Inc., Mayato GmbH, Mastercard Inc., ThetaRay Ltd Amongst Others.

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Key Developments:

- February 2020 - Oracle Financial Crime and Compliance Management (FCCM) suite of products now include an integrated analytics workbench, 300-plus customer risk indicators, and embedded graph analytics visualizations. These capabilities build on Oracles strategy to help financial institutions fight money laundering and achieve compliance.
- February 2020 - The Central Bank of Libya in Tripoli, which includes four of Libyas public sector banks, is upgrading its current FLEXCUBE solution, which is offered by Oracle Corporation. FLEXCUBE engages in helping banks meet customers evolving expectations for more digital, responsive, and connected experiences. In addition to addressing core-banking needs, the integrated solution will help the banking staff with critical insights and help improve operations.

Market Segmentation:

Segment by Type
On-Premise
Cloud
Segment by Application
Feedback Management
Customer Analytics
Social Media Analytics
Fraud Detection and Management
Others

Key Market Trends:

Fraud Detection and Management Account for Significant Market Share
- Financial organizations around the world lose more than 5% of annual revenue to fraud. While direct losses due to fraud amount to a large million dollars, the actual cost is much higher in terms of loss of productivity and loss of customer confidence (and possible attrition). Various losses due to fraud go undetected. With USD 5.7 billion in global money laundering fines issued in 2019, growing threat sophistication, and rising compliance costs, financial institutions need advanced analytics to deter financial crime.
- Big Data Analytics for fraud prevention is driven by metadata; all records are exhaustively linked based on combinations of attributes within the data. Using statistical techniques, collective entities are identified and collapsed to produce single views of entities within networks. Discrete, bounded networks within the data coulde also be generated, which helps in the representation of statistically relevant groups of activities and relationships.
- Big Data Analytics is being used extensively to gain relationships among fraudulent activities, including several suspicious activities in a single account or patterns of similar actions across different accounts. Deep analytics looks for similarities that helps in the indication of fraud among transactions or sets of transactions

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools:  Big Data Analytics In Banking Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, Big Data Analytics In Banking Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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