9 Big Data Challenges Banks Face

Some banks have started dusting off projects that were put on hold when the financial crisis hit. However, most of these are dealing with a specific problem, such as liquidity risk reporting and not trying to transform the enterprise systems at once.

These are the major challenges as identified by executives from +SAP:

1. The Big Data myth
2. Dirty data
3. Aged data infrastructures
4. The need for real-time data
5. The need to get new products to market quickly
6. Inefficient data management
7. Seeing the value of data
8. The need to shift IT from cost to profit center
9. Fear of failure

Full article on +American Banker can be accessed here.