Author(s) :  Kamal Preet Kaur

Abstract :
Purpose: Financial analytics can improve financial visibility, and profitability, and create value for businesses and stakeholders as well. It can manage the assets such as cash, and equipment which are very important in making any financial decisions. This technique focuses on several areas like revenues, operational efficiency, capital efficiency, solvency, liquidity, etc. which is crucial in accounting efforts. The Indian banking sector has transformed a lot with the increased use of I.T. since the 1980s, 1990s, and 2000s as there are various applications of I.T. in different processes of banking from various sources like cost reduction, revenue generation, fraud detection, and several security issues, etc. and this transformation persists with a new trend called Business Intelligence and Big Data Analytics.

Methodology: The study is conceptual and descriptive. This study is based on primary data and secondary data as the data is collected from various national and international journals, literature, and, reports on Analytics in Banking published by online resources.

Findings: Financial Analytics used in banks mainly helps in Marketing Analytics, Strategy Formulation, and Risk and Fraud management. It helps the banks in customer segmentation, cross-selling, customer retention, campaign management, and in cross-selling activities. Various persons use financial analytics whose main purpose is to diversify the risk.

Implications: Financial Analytics helps in a proper understanding of the behavior of customers by which we can meet the regulatory requirements also. It can improve transparency in improving the design of the product and overall product portfolio optimization. Its main significance is that it can remove fraud and can easily measure customer and product profitability.

Keywords: Financial Analytics, Customer Segmentation, Predictive Analysis, Fraud Detection, Artificial Intelligence, Banking Sector.

DOI : 10.61161/ijarcsms.v10i11.15

Pages : 84-91

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