Big Banks Use Brokers To Glean Fuller View of Clients
BIG DATA—AUSTRALIANovember 8, 2012
Australian Financial Review reports on big banks’ use of Big Data to get a fuller picture of their clients. “We see transactions that tell us very clearly what’s happening in the customer’s life,” said National Australia Bank’s (NAB) head of analytics and research operations. An NAB subsidiary will launch a website this month to unveil consumer spending habits using one billion transactions by NAB customers over a four-year span. “Some banks are really going to push the boundaries of what customers expect from the bank,” one expert said.