What Bank's can learn from Startup's about data
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Transcript of What Bank's can learn from Startup's about data
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WHAT BANK’S CAN LEARN
FROM STARTUPS ABOUT DATA?
@amanwhotweets
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Being Big was once an advantage for Bank’s when it came to Data.
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But Data got Bigger with more Volume
Source: PWC FS ViewPoint
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And even Bigger with increased Velocity
Source: PWC FS ViewPoint
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And almost inconceivably Huge with more Variety
Source: PWC FS ViewPoint
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BANKS
STARTUPS
Yet companies much smaller than Bank’s in our universe and are doing better job...
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ACCESS
For two reasons.
INSIGHT
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Better Access.
1. Reduced Costs
2. Disruptive Technologies
3. More Scalable
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Deeper Insights.
1. Output oriented
2. Fact based decisioning
3. Unconstrained by Data Ownership
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Three thing’s Bank’s can do to help themselves
Reap what you sow.Be disciplined in what data you collect, analyze,
discard and distribute.
Experts often possess more data than judgment.Colin Powell
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It’s a journey not a destination.Be mission not task oriented in your data journey.
The journey is the reward.Steve Jobs
Three thing’s Bank’s can do to help themselves
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Three thing’s Bank’s can do to help themselves
Collaborate as you consume.Driving great insight requires great teamwork with
partners and a ‘data ecosystem’
If you want to go fast go alone. If you want to go far go together.African Proverb
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THANK YOU@amanwhotweets