The Growth And Development Of The Banking Sector

1280 Words6 Pages
The trend in the banking and financial institution undergo the transformation of changes within a short span of period. The applications of different advanced technology and the prolonged investigations and research has contributed to the increased growth and development of the banking sector. The finance industries implement a distributed information center. The client’s data and information regarding the transactions get replicated in different terminals to enhance the easy transactions between the bank customers and the corporate firms. The bankers think about the customers in different perspective regarding security and providing quality services. What is Big Data? The big data refer to the collection of data and information to analyze the trends and patterns practiced by people when transacting with financial institutions. The transaction information relating to individual customers has usage by the financial institutions to determine the ability of the credit worthiness of the client to enhance good customer relations. The data mining and the data warehousing technology help the banking industry in accessing the information relating to the customer mode of operations and transactions. Banking and Finance industry The banks and the financial institutions provide the banking services that include the cash management. The cash management service involves the ability for the customers to conduct transactions involving money transfer from one account to another. The banking
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