a unified view of an organisation ’ s data is called Decision Intelligence . For the full power of artificial and generative intelligence applications to be unlocked , it ’ s essential that all an organisation ’ s data be unified and made available . A strong data foundation is the critical enabler for all digital transformation projects .
Maciej Pitucha Most likely , fintech startups might lean towards outsourcing due to resource constraints , while larger companies might prefer collecting data in-house to ensure control and align with long-term data strategy . Additionally , a combination of both approaches can sometimes be the best strategy , depending on the type of data and specific use cases .
In 2025 , we can expect to see fintechs investing even more money and effort into analysing data , and several key factors will drive this trend :
Personalisation of services : Fintechs are using data analytics to offer more personalised financial products and services to increase user acquisition and keep user engagement . By investing in advanced analytics , fintechs will be able to create more tailored financial solutions , provide proactive recommendations , and improve the overall user experience . More developments might focus on areas like budgeting tools and investment strategies tuned to an individual ’ s risk profile , where the deployment of more extensive data analytics can drive
MACIEJ PITUCHA innovation and customisation . When it comes to the category of data they need , fintechs will focus on customer spending patterns , financial history , including insights into the financial health and creditworthiness of their customers , and market trends .
Risk management : Investment in AI and big data tools will be crucial for improving risk modelling and predicting market volatility . But while fintechs are putting money into detecting fraud during transactions , a big chunk of their investment in data will likely be used to improve the KYC
110 December 2024