“By using insights from the fraud management system, we can better understand how customers transact and get more intelligence on their transactional behavior. We can look at common patterns and make our marketing campaigns more effective,” Mridul Sharma, CIO, IndusInd Bank.
Customer communication and preferences can be vital in detecting fraud early. Can a bank equip customers to control transactions as an effective fraud protection mechanism?
While the generic benefits of Big Data Analytics are known, applying it in the banking context for fraud prevention and cross-sell must be treated differently.
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