Tag Archives: banking
Big Data—A Banking Boom or Bust?
Location-based insight
Business data is growing at such a rate that many organizations can become overwhelmed by the big data problem. A recent McKinsey, IDC, and Department of Labor Statistics analysis [PDF] of data in business found that financial/securities organizations have 3.8 petabytes per firm—that’s more than 400 million gigabytes, or about 12.5 million iPads, per company! Banking comes in a distant second with 1.9 PB. This puts big data found in financial services companies into perspective since this is even greater than most communications and media companies’ average of 1.8 PB. Continue reading
Geography Can Provide Better Banking Services
Our Failed Financial Institutions Need to Meet Their Community Covenant
We dodged a bullet. The global economic meltdown, which saw 140 banking organizations closed in the U.S. in 2009, has affected every industry and sector of life. Governments spent billions trying to correct systemic failures that began with the subprime mortgage crisis and led to a vicious cycle of reduced credit, business bankruptcy, and soaring unemployment. A 1930s-style depression was avoided at great cost to our public and private financial systems, but it could have been much worse. Continue reading
