Why Unstructured Data is Important in Financial Services?
Introduction The sector of the economy that deals with financial services are now experiencing a period of profound change. Organizations that deal in financial technology are at the forefront of this transition. These companies are the ones who are providing innovations such as hyper-personalization by using capabilities in Artificial Intelligence (AI), conversational interfaces, blockchain, and crowdsourcing. The financial services sector is becoming more open to innovation due to the disruptions that have occurred. However, compliance with rules and laws is the other side that must be considered with innovation. As a result, financial institutions are making significant investments to enhance their Unstructured Data capabilities to make sense of transactional and business data and to comply with laws. Utilizing Data That is Not Structured Financial organizations may get undisclosed actionable insights from unstructured data, such as consumer preferences, unmet customer demand...