BIG DATA AND ANALYTIC IN FINANCIAL SERVICES: APPLICATION AND TRENDS

The financial services industry was recently identified as the industry most likely to be disrupted and transformed by millennia’s. The application of Big data analytics in financial services is advanced and pervasive. The changes in the banking and financial services industry in the coming years will be seismic. As an example, global banks are setting up innovation centers and specialized teams to focus on blockchain, heralded as a disruptive force that offers multiple opportunities such as overhauling existing banking infrastructure, speeding up settlements and streamlining stock exchanges. This article briefly reviews the successful evolution of big data analytics in the financial services.