Dollars in the detail; banks pan for gold in ‘data lakes’


  • TECH
  • Friday, 21 Jun 2019

FILE PHOTO: A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration/File Photo

LONDON: From sending special offers on restaurants to burger-loving current account holders to selling anonymised credit card records, banks are racing to monetise the huge troves of data they hold.

Wall Street trails Silicon Valley in using customer information to boost revenue but with tech giants such as Amazon and Google wading onto their turf with forays into lending and payments, banks including JPMorgan, HSBC and Barclays are moving to narrow the gap.

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