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

Contact Center Solutions Week in Review

The word "spanning" comes to mind in looking at the news and insights this past week in the Contact Center Solutions Community. Not only were there items that speak to the global impact of contact center solutions, but we spanned a broad range of important topics including omnichannel and metrics. [ Read More ]
08/30/2014

Rise in Cloud Contact Center Traffic Volume in 2014

Voxbone says it saw a 14 percent increase in call volume (in minutes) over the last six months which it points out has been validated recently by IDC Research who is predicting that spending for on-demand cloud contact centers in the U.S. alone will increase from $733.3 million in 2013 to $1.6 billion in 2018. [ Read More ]
08/29/2014

Scripts and Metrics Only Take Call Centers So Far

Performance metrics are not the end-all be-all of call center performance. Companies desperately struggle to make their call centers operate more efficiently, at lower costs, with more calls completed per hour, and with fewer return complaints. However, when reaching for those goals, some businesses fail to make their centers better overall, as if the sum of those individual parts was something more. [ Read More ]
08/28/2014

CSG Announces New Agreement with Leading Latin American Mobile Operator

A top Latin American Mobile Operator recently signed a new agreement with CSG International to support its next-generation data and analytics capabilities. [ Read More ]
08/28/2014
Subscribe here for your FREE Contact
Center Solutions
enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!