Standard Chartered Bank: Making Data Sense

Solution Requirement

Even though the BFSI industry is one of the early adopters of emerging technology, it is also the most vulnerable sector. There is no dearth of customer data available to the Standard Chartered Bank. But the problem lies in the fact that the data available is huge, scattered and often ambiguous, he points out. Machine learning can generate meaningful insights, but if you feed data that doesn’t make any sense to the algorithm, that is exactly what you will get in return.

Solution Deployment

To tackle this issue, Standard Chartered Bank India implemented a solution using algorithms to scan structured and unstructured data from internal and external sources. The solution deploys advanced analytics and visualization techniques to provide users with intelligent and timely insights for better decision making. “The approach has helped us in acquiring crucial information and deep insights to enable oversight on both capital expenditure and operational expenditure of borrowers,” he says. It provides early identification of risk, a 360-degree access to internal and external data, credit-monitoring and also ensures compliance with regulatory guidelines