Saturday, July 8, 2017
Cloudera Empowers Yes Bank’s Digital Strategy to Deliver Enhanced Business Insights
Cloudera, Inc., the leading provider of the modern platform for machine learning and advanced analytics, announced that YES BANK, one of India’s largest private sector banks, has adopted Cloudera Enterprise Data Hub to develop customized campaigns for consumers throughout their customer journeys. Cloudera Enterprise empowers YES BANK to transform their growing volumes of transactional and customer data from their digital services into clear and actionable insights by using real-time analytics and machine learning.
Banking, Financial Service and Insurance (BFSIs) across the region are struggling to keep pace with the vast amount of customer data that they collect in today’s consumer-centric mobile economy.With Cloudera Enterprise, BFSIs like YES BANK can now mine large volumes of data from financial transactions and create machine learning algorithms to support information-driven business decisions and revenue growth.
Commenting on the development, Anup Purohit, Chief Information Officer at YES BANK, said,
“Cloudera Enterprise is now the bedrock of our company’s digital strategy. With its successful track record of working with several other leading BFSIs across the globe, YES BANK decided to deploy a modern platform to provide a differentiated digital experience for our customers through intelligent, real time analytics.”
Today, YESBANK issuing big data and analytics to cross-sell and up-sell opportunities for the business, while providing a customized experience for consumers across the bank’s digital channels and identifying and rectifying any inconveniences during the customer journey.
With the growing risk of cyberattacks, BFSIs also recognize the importance of a safe and secure data management platform that is compliant with the latest industry regulations. Cloudera Enterprise enables YES BANK to reduce the cost of compliance in today’s digital age and transform existing processes through machine learning and predictive modelling, eliminating risk and detecting fraud faster and smarter by utilizing massive amounts of data to effectively train their systems.