Contact Center Solutions Featured Article

Regulation to Pressure Financial Services Firms into Big Data: Verdande Technology

January 08, 2013

Financial service companies deal with a large amount of data. It can be an especially daunting task to systematically store and use that data to their advantage.

But to remain competitive, financial firms should find a way to make better use of ‘big data’ as they contain valuable information.

Data derived from contact centers, for instance, can provide useful information about common customer problems, what they expect from the company and opportunities available for the companies in this field.

‘Big data’ derived from contact center interactions can be a gold mine for the companies, if they can make the right use of it.

In fact, using big data is barely optional anymore to stay afloat in the modern industry. According to Verdande Technology, financial service providers will have to comply with a high number of regulations in the near future – and big data is the only way out.

According to Verdande, big data helps financial service companies make better use of their existing IT resources and reduce expenses. Proper use of big data helps companies to detect and prevent financial frauds as well.

“The goal for your financial services organization in 2013 should to be to stay off the front page by proactively predicting business problems and working to mitigate them before they happen,” said Jo Kinsella, CEO of financial services at Verdande Technology. “This is where CBR comes in. Based on the principle that similar problems have similar solutions, CBR sits on top of existing IT and trading tools and analyzes data patterns in real time.”

The company has been developing a variety of new products for the financial service market. In January 2012, the company unveiled case-based reasoning technology for the financial market. This product had already tasted success in the energy sector with its ability to search static data sets. 

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Braden Becker

Article comments powered by Disqus

Related Contact Center Solutions Articles

Report: Customer Service a Primary Concern for Consumers, Businesses

In the latest report from The Economist Intelligence Unit, "Creating a seamless retail customer experience," it asked consumers what exactly they want in their customer service and asked companies how they felt they deliver positive service through new technologies. [ Read More ]
03/30/2015

JD Power VoX: Holistic Approach to Customer Experience Monitoring and Management

One of the more interesting challenges in a world where enhancing the customer experience is now at the top of C-level lists everywhere is how to analyze and optimize those experience to drive financial results. For over 45 years, Westlake Village, California-based J.D. Power has specialized in helping organizations better understand the voice of the customer, and they have just introduced something that is sure to capture executive attention. [ Read More ]
03/27/2015

AsiaPay Partners with Semafone for Secure Telephone-based Payments

Asia-Pacific electronic payment service provider AsiaPay recently announced that it has partnered with Semafone, a secure payment technology developer, to allow AsiaPay customers to complete telephone-based payments in its operating regions. [ Read More ]
03/24/2015

Cisco Brings Omnichannel Context to its Contact Center Solutions

Cisco Systems has expanded its contact center solutions with the addition of Context Service. The new cloud-based service, which Cisco is offering at no additional charge to its contact center platform customers, provides organizations with a complete view of their customers by aggregating customer information across all channels. [ Read More ]
03/17/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!