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Big data in banking case study – Fraud Detection
Big data gives lots of things to each and every industry. There is not a single industry from micro to major which not use this big data tool. It renovating the world and left no industry untouched with benefits. But for Banking industry it works as s life guard jacket because it saved a lot of revenue from banking industry by helping in detecting fraud, managing risk and in the contentment of customers.
· The rate of the fraud detection increased from 14 to 22% per 10000 application So, identify or analysis becomes more valuable.
· There was highest growth rate of fraud detection in 2016 from 20%, incident of theft risen to 28% in 2018.
· Third party involvement in the continue process was the notable or helpful to finding the fraud related things like Cards, online transaction, Loan activity and many others.
· Number of Current account...