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Big Data Analytics in the Banking Sector: Guidelines and Lessons Learned from the CaixaBank Case

Authors: Alexopoulos, Andreas; Becerra, Yolanda; Boehm, Omer; Bravos, George; Chatzigiannakis, Vasilis; Cugnasco, Cesare; Giorgos Demetriou; +23 Authors

Big Data Analytics in the Banking Sector: Guidelines and Lessons Learned from the CaixaBank Case

Abstract

AbstractA large number of EU organisations already leverage Big Data pools to drive value and investments. This trend also applies to the banking sector. As a specific example, CaixaBank currently manages more than 300 different data sources (more than 4 PetaBytes of data and increasing), and more than 700 internal and external active users and services are processing them every day. In order to harness value from such high-volume and high-variety of data, banks need to resolve several challenges, such as finding efficient ways to perform Big Data analytics and to provide solutions that help to increase the involvement of bank employees, the true decision-makers. In this chapter, we describe how these challenges are resolved by the self-service solution developed within the I-BiDaaS project. We present three CaixaBank use cases in more detail, namely, (1)analysis of relationships through IP addresses, (2)advanced analysis of bank transfer payment in financial terminalsand (3)Enhanced control of customers in online banking, and describe how the corresponding requirements are mapped to specific technical and business KPIs. For each use case, we present the architecture, data analysis and visualisation provided by the I-BiDaaS solution, reporting on the achieved results, domain-specific impact and lessons learned.

Keywords

Security applications, Self-service solution, Advanced analytics and visualizations, Big data analytics, Banking

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selected citations
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This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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