A new report from Harvard found that by 2017, firms using predicative analytics will be 20% more profitable than those that don't. So how should FIs take advantage of this new technology? One startup argues that the quickest and best way is to partner with fintech vendors.
Banks now need to move beyond descriptive analytics and into the field of prioritized action and predictive analytics based on historical patterns. Predictive analytics enable institutions to leverage the underlying patterns to direct front-line employees into targeted opportunity. For a FICC business, this could provide answers to questions such as: Which clients am I anticipating seeing in the market today? What products do I think clients will most likely be trading? The race to understanding is now in full swing While the build-vs.-buy debate rages on in other sectors, there is a new level of maturity and common understanding in the financial technology market in the wake of the financial crisis and emerging regulatory reforms – and nowhere more so than in the field of data analytics for sell-side FICC teams.
http://tabbforum.com/opinions/buy-vs-build-the-debate-is-over-with-analytics-3-dot-0?page=2