Though banks are still an important part of people's lives as primary financial services provider, their relevance in the market is decreasing because new specialized players (e.g.: FinTechs) are taking some of their market share. Even if this market share is temporarily limited, banks should look for improvement in the areas where they lack the quality and simplicity offered by these new competitors. So they should focus on simple and transparent policies, processes, product

Today we are going to discuss about the three main trends among the most promising financial service firms that are transforming themselves into Big Data-driven companies. - Data operational model: by defining roles and responsibility, these firms put in practice a data governance model that begins with the definition of the Data Officer as a leader that is responsible for designing the macro data governance model and assigning the other roles; a Data Governance Coordinator t

The evolution of technologies have been helping the CFOs to make better decisions and focusing in other areas rather than monitoring and control function to analyze new business opportunities. Thanks to the new way data is storaged and live connected to the systems. Big data technology generate important cost advantage to data elaboration, by using automated tools, making real time reports, different from the warehouses where data is extracted and static. It also helps banks

Data has changed in a way that its speed and amount has greatly increased. In this new scenario, financial service firms must deal with continuous flow of data. They are used to deal with their internal and structured data, but much more unstructured data is generated from outside sources. Using new data-related technologies, these firms can gather useful insights that might lead to better business decisions. Though financial service firms could not completely recover from th

In a world where the use of mobile technology is consistently increasing, people expect to be able to buy products and services wherever they are and whenever they want it. To be able to offer some kind of solution to these customers, some countries and regions around the world have already implemented a real-time retail payment system (RT-RPS). Other countries and regions are working in their retail payment systems to allow real-time transactions too, because that represents

The current economic system is deprecated. In a world where the amount of information and the quickness of its distribution are enormous, the economy still seems to use the internet as a cane, going slowly and sometimes stumbling on its way. Nobody really paid any attention to this situation and nothing revolutionary has emerged in this scenario until now. Suddenly and mysteriously emerge Bitcoin. A cryptographed financial transaction that rewards who decryptograph it with pa