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Predictive Analytics in the Financial Industry – The Art of What, How and Why

by on June 20, 2016

Mobey Forum, the global industry association empowering banks and other financial institutions to play a leading role in ushering the future of digital financial services, has just published the first in a new series of reports that are exploring the most important aspects, challenges and key application areas of predictive analytics in financial services. As Co-chair of the Mobey Forum’s predictive analytics workgroup, I had a front row seat in observing the challenges the industry is facing, while transitioning to a much more data-driven operational mode necessitated by competitive pressures. I would like to thank the colleagues from Danske Bank, UBS, Nets, PostFinance, Ericson, HSBC, Nordea, CaixaBank, Teconcon, Giesecke&Devrient and many more leading institutions that contributed to the final report.

Statistics vs. Machine Learning

Predictive Analytics in the Financial Industry – The Art of What, How and Why’, is a primer that lays the ground work for subsequent reports that will go into much more detail in exploring different technical and organizational aspects of predictive analytics. The Mobey Forum workgroup aims to strike a balance between the technical underpinnings of key enabling technologies such as Machine Learning and the real-life best practices commercial applications that can serve as benchmarks for beginners in their initiatives.

We hope this effort provides the spark to get your organization to start investing in predictive analytics. And in a way that can accelerate innovative data-driven products and services that can adapt to the dynamic marketplace that is threatening to make one-size-fits-all type traditional product and service portfolios obsolete.

As a reminder, an in-depth discussion by the authors of the report will be broadcast on BrighTALK on July 11th at 4PM CET.

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