Economist Impact & InterSystems Webinar
Business leaders frequently hear that data is their most valuable asset. And while few would refute the claim, there is a big difference between understanding the theory and being able to put it into practice.
Leaders in traditional banking are grappling with how to fully harness data as a powerful tool. The 2022 World Retail Banking Report revealed that 73% of banking executives say their companies struggle to turn data into useful insights and 70% lack the resources to adequately process and analyse data.
Banks are fortunate to have a wealth of data at their fingertips. But they need to be able to access, make sense of and use it in real time to realise its true value. Beyond that, banks need to think about their long-term data strategies. Do they want to be driven, led or informed by data? What makes these approaches different and how can companies decide which is the best road for them to take?
The opportunities banks can accrue from data are significant. But it will take hard work to realise them and stay competitive in an increasingly disrupted market.
Questions to be addressed include
- What bottlenecks do banks encounter on their data journeys? Why are financial institutions finding it so hard to harness the true value of their data?
- What skills, functions and systems do banks need to develop to make better use of their data?
- Should banks aim to be data-driven or data-led? What are the practical differences and which approach will best set them apart from the competition?
- What can traditional banks learn from the approaches adopted by neobanks and fintechs?
- What are the most pioneering data-led businesses doing right?
- Nilesh Vaidya
Global head, banking and capital markets practice, Capgemini
- Kerem Tomak
Global chief analytics officer, ING
- Joe Lichtenberg
Global head of industry marketing, InterSystems
- Sarah Gadd
Global head of data and artificial intelligence solutions, Credit Suisse
- Swarup Gupta
Industry manager, Economist Intelligence Unit