The financial sector has become one of the biggest consumers of big data in recent years. According to Gartner, 64% of financial service companiesused big data in 2013. That figure has steadily risen over the past four years.
Big data is changing the industry in unprecedented ways. Using Big Data and Predictive Analytics to Make Better Actuarial Decisions. One of the biggest implications is that it is making the once highly consolidated industry much more competitive. Fintech companies are able to take on big banks that are exponentially larger.
Author: Ryan Kh