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Banking Technologies – Harnessing the Power of Data Subscriptions

Explore Newly Prescribed Data Sources for Advanced Analytics and Timely Reporting

Data is the new oil, which makes analytics the driving force for harnessing its power. But, access to resources trumps all.

‘Data Subscriptions’ are an unmissable asset. Where access to High-quality Data is setting businesses apart from contenders, it is being used to help customers like never before.

In today’s financial scenario, banking functions like fund management, loan allocation, and successful recovery are the tip of the iceberg. As the digitized world is connected on more fronts, and hence trustworthy relationships with your customer/clients do not suffice.

In using High-quality Data, a business relationship in the Finance world can be nurtured into a value-adding affiliation.

For a new-age bank, some critical areas requiring High-quality Data include modernized communications for building a community, customer-retention strategies, and the ever-increasingly crucial task of risk aversion.

It may seem like a tough road to go down without the right resources, read: the right Data Subscriptions.

Data is Integral to the Merger of Problem Discovery and Solutioning

Today, quick and agile data processing is pivotal to the ever-growing repository of data, more commonly known as big data. When analytics processes are built well, banks can stand out with unique efforts, especially for today's digital consumers.

Data Subscriptions play a huge role in analytics, for relevant, clean, and optimized data.

Since regulators have stepped in to clarify the heat around the rules for access to big data sources, Banks are profiting in multiple scenarios. Multiple cases where banks have made strides in utilizing data subscriptions are –

Predictive Analytics for Unparalleled Risk Aversion

Early Warning Systems (EWS) offers data analytics that helps banks and financial institutions predict defaults long before they happen. Recently mandated by regulators, the systems are proving to be a boon in lending. It majorly helps with successful recoveries.

Customer Analytics to Ace Trends for Digital Customers

Credit Monitoring Systems (CMS) offers data analytics to understand better its customer base, product performance, and market trends. Unlike predictive-financial analytics' quicker results, insight generation for widespread marketing strategies offer benefits in the long run.

Accelerate Analytics Processes with Data that Matters

Good data is data you can collect, clean/enrich/transform, and make insightful, with the sole goal of improving decision-making.

In a transparent digital world, data could be structured, unstructured, and semi-structured. Adhering to standards, ‘good data’ is what data subscriptions offer.

The good data coming in from data subscriptions are pre-empted for specific decision-making. Moreover, it helps business leaders with the best inputs from the dreaded big data ocean.

According to regulators, Which Data Subscriptions are Important to Banks Today?

We offer data subscriptions for Know-your-customer (KYC) information validated by the Customer Information Commission (CIC), Financials and Reported Earnings submitted by businesses, Alternative Data, Environmental, Social, and Governance (ESG) Data, Litigation-related Information, and more.

Data for Predictive Analytics for Corporate/MSME Lending

  • Financials, Annual Report, Details of Company, Associates, Directors, Charge, etc. from MCA (Ministry of Corporate Affairs).

  • External Ratings from CRISIL, CARE, ICRA, India Ratings, Brickworks, Acuite, etc.

  • News, tweet - 2500+ sites - Domestic, International, Business-related.

  • Willful Defaulters, Shell Companies, Default Companies & Directors from MCA, SEBI, Bank, and RBI sites.

  • Litigation details - NCLT, NCLAT, High Court, and Supreme Court.

  • Tax Defaults, PF Defaults, etc. from the related sites.

Data for Trends, Technological Inclusions, and Marketing Strategies

  • Customer Behaviour and Trending Market Sentiment

  • Regulatory Norms and Information on New-inclusions

  • Segment-specific Data on Clients and Industries

  • Regulator Approved Customer/ Company Third-party Data

D2K Technologies’ Analytics systems source finance-specific business data for stakeholders and business leaders as well as for regulatory requirements such as – IRAC Norms | IGAAP Reports | Ind AS Reports.

Get in touch with D2K Banking Fintech Consultancy Experts for more information on roadmaps for deploying new-age technologies for comprehensive analytics services.


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