Discovering Data Monetization Opportunities in Financial Services

By neub9
1 Min Read

Data has become an essential driver for new monetization initiatives in the financial services industry. With the vast amount of data collected from customers, transactions, and market movements, among other sources, this abundance offers tremendous potential for financial institutions to extract valuable insights that can inform business decisions, improve customer service, and create new revenue streams. With the emergence of new technologies, including

privacy enhancing techniques

(PETs) that further protect the customer, monetizing data has become more accessible than ever before.

Considering today’s mobile-first-, mobile-almost-everything world, there has been a surge in the use of mobile banking applications, only accelerated by the COVID-19 pandemic. With more people relying on mobile digital transactions to check balances, make deposits and payments, and execute trades, financial services firms are able to collect a massive amount of data on a wide range of customer behavior. These data and other sources represent key opportunities for data monetization. By leveraging these data and creating a data-driven culture, firms can generate new revenue streams and improve their operations.

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *