We are seeing an increasing number of start-ups focusing on the power of data in Financial Services. We've already made investments in some exciting platforms focused on commercial real estate, distressed debt, digital currencies and the un/underbanked.
Looking at Loans... A San Francisco-based subsidiary of BNP Paribas SA, BNP.FR +1.48% Bank of the West, operates more than 700 branches in 20 states. Chief Information Officer Kirsten Garen says the company has gathered terabytes of information about its customers and has been able to use them to create better tiered prices. But Bank of the West would like "predictive life-event data" about its customers—like graduation, vacation or retirement plans—to create products more relevant to their financial needs, says the bank's head of product strategy, Alan Newstead. At this point, however, collecting that breadth of data is a logistical and regulatory challenge, requiring very different sources both inside and outside the bank.