Indian private sector lender YES BANK has chosen Cloudera Enterprise Data Hub from US-based software firm Cloudera to develop customised campaigns for consumers.
The technology vendor said that its platform will allow the bank to mine huge data volumes from financial transactions and convert them into actionable insights through the use of real-time analytics and machine learning.
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The technology will also allow the bank to lower compliance costs and identify fraud faster and by using data to train systems, Cloudera added.
Yes Bank chief information officer Anup Purohit 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.”
Cloudera regional vice president of sales for Asia Pacific and Japan Mark Micallef said: “Cloudera empowers BFSIs like Yes Bank with a scalable and secure data analytics and machine learning platform to use data in ways not possible before and enables organizations to derive business insights for revenue growth, all while maintaining a high standard of security and ensuring compliance to industry regulations.”
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