Financial Services

empowering solutions.

Financial Data Management
& Aggregation

Xeotech have 20 years expertise delivering financial data management solutions.  With constant changes in regulations as well as competitive challenges, data mining in financial services has become critical in pushing businesses forward and gaining deep insights from your data in order to get ahead, make more informed decisions and have one true source of data that you can trust is accurate.  The financial services sector is one of the most data intensive sectors across the world so utilising and interpreting this data is essential.  Although many financial services companies have gained a competitive advantage by utilising big data, many have been left behind.  If your organisation has many sources of data that are not integrated into one feed that makes it easy to analyse and interpret, your business is at risk.

Benefits of data aggregation in
the financial services sector

The financial services industry is driven by data and implementing data aggregation makes it possible to monitor data with precision, speed and a level of security that is especially important. It also makes it easier to make informed decisions relating to customer service, fraud prevention and risk. Some of the benefits of data aggregation in the financial services sector are:

Real-Time Insights

Data mining in financial services can enable your business to make better decisions based on real-time data. Through data visualisation and real-time analytics, your business improve the customer experience, improve productivity and have the data on hand whenever you need it.

Detect and Reduce Fraud

Determine unusual patterns of behavior when it comes to buying. Financial institutions have the scope to monitor data at an intricate level that makes it possible to take instant action once fraud is detected.

Thorough Risk Analysis

Risk is a big part of the financial services sector. From investments to loans, it’s important that calculated decisions are made based on analytics that considers many different elements. This can range from the economy to customer segmentation and business capital as this will then enable you to identify possible risks and avoid making incorrect decisions.

Enhanced Revenue and Customer Satisfaction

Through applying data aggregation to processes, it becomes possible to create analytics that look at customer behavior. This enables your business to react to requests or issues directly while it can also help to prevent payment delays and even provide information that customers require, quickly and efficiently.

Streamlining Processes

Financial services companies are handling more and more data. This data can become lost or misused but with data aggregation, data is easily accessible and readily available. This ensures that your employees can make better, faster decisions the data that they require at their fingertips with on–demand reporting. Data aggregation makes processing data easy, fast and actionable.

Reduce Costs

By streamlining processes and reporting you can reduce the time it takes your employees to complete repetitive tasks while improving organisational efficiency. In addition, there are many efficiency gains that can be driven by the insights gained from big data – the insights you get can help you make critical decisions to drive your business ahead of the competition.

Improve Performance

Data provides insight but it can also be used to analyse financial performance. This can help many different departments to identify where improvements can be made and where savings can be made. These critical insights can be analysed to a micro-level and that can help financial institutions to improve performance.

Target New Customers

With improved data comes new possibilities because it enables financial services companies to make informed decisions based on what new customers might require. This allows certain targeting that relates to specific offers that will appeal to potential customers.

Reduce Regulatory pressure

There are many regulatory reports required in the services sector (Basel III, FRTB, MiFID II, AML/KYC, FATCA etc) which can be time consuming. In addition, inaccurate regulatory reporting could harm your business. Through financial data quality management and aggregation your business can produce these reports quickly with the confidence in the data being accurate.

Financial Data Management Solutions

Data management is pivotal in the day-to-day running of financial institutions. Whether it’s streamlining processes or reaching out to new customers, it makes it possible to make better decisions that lead to improved outcomes. Contact us today to see how what financial data management solutions we can assist you with.