A Survey on Bigdata Analytics using in Banking Sectors

International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 4 Issue 4, June 2020 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD31016 | Volume – 4 | Issue – 4 | May-June 2020 Page 498
A Survey on Bigdata Analytics using in Banking Sectors
Gagana H. S1, Roja H. N2, Gouthami H. S1
1Faculty in Computer Science, 2Student, M.Sc. in Computer Science,
1,2DOS in Computer Science, Mangalore University, Jnana Kaveri PG Centre,
Chikka Aluvara, Kodagu, Karnataka, India
ABSTRACT
Current days, banking industry is generating large amount of data. Already,
most banks have failed to utilize this data. However, nowadays, banks have
starts using this data to reach their main objectives ofmarketing.Byusingthis
data, many secrets can be discovering like money movements, thefts, failure.
This paper aims to find out how big data analytics can be used in banking
sector to find out spending patterns of customer, sentiment and feedback
analysis etc. Big data analytics can aid banks in understanding customer
behavior based on the inputsreceivefromtheirinvestmentpatterns,shopping
trends, motivation to invest and personal or financial backgrounds. This data
plays a necessary role in leading customer loyalty by designing personalized
banking solutions for them.
KEYWORDS: Big data analytics, banking, customer, finance, marketing
How to cite this paper: Gagana H. S | Roja
H. N | Gouthami H. S "A Survey on Bigdata
Analytics using in Banking Sectors"
Published in
International Journal
of Trend in Scientific
Research and
Development
(ijtsrd), ISSN: 2456-
6470, Volume-4 |
Issue-4, June 2020,
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International Journal ofTrendinScientific
Research and Development Journal. This
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/4.0)
1. INTRODUCTION
Now a days Big data in banking industry is the ever-growing
sector. The big information revolution happening in and
around twenty first century has found a resonance with
money service corporations, considering the dear
information they’ve been keep since several decades. And
although the gatheringofthisinformation wasrandom,since
method of accounting has continuously been historical in
nature, the potential unbarred by massive information
analytics exceeds any expectation antecedently expected
from this account set. This information has currentlysecrets
of cash movements, helped stop major disasters and thefts
and perceives client behavior. Banks reap the foremost
edges from massive information as they currently will
extract smart info fast andsimplyfromtheirinformation and
convert it into meaningful edges for themselves and their
customer
2. Literature Review
Present days competitive world where technology plays a
very important role and we talk about banking sector or
industry there is a positive relationship betweentechnology
and customer satisfaction. They also stated that satisfaction
of customers is not merely introducing innovative products
and services rather it is much more than that. They also
found that if the bank wants to become the market leader in
the competitive environment it must use the innovation
approach in all the aspects like products and services. Also
there is a significant relationship between technological
innovation and cost. As the innovation increase the cost is
also increase.
This paper brought to light that with e-banking complexities
on customer satisfaction. Results shows that there are
factors which leads to customersatisfactionparticularlyine-
banking, which is one of the very importantandfastgrowing
way of doing banking. Factors are accessibility,convenience,
security, privacy, content, design, speed, fees and charges
have influence on customer satisfaction where the other
factors notified have no significant influence.
3. Big data analytics
Big data is the term for a collection of datasets so large and
complex that becomes difficult to process using on-hand
database management tools or traditional data processing
applications. Sometimes it is also defined as “Big data is
same as data but bigger in size”. In present days every
minute of every day getting large amounts of data.
For example:
more than 204 million email messages/day
Over 2million Google search queries/sec
48 hours of new YouTube videos/min
3.1. The 4v’s of Big data
Volume: it is getting vast as compared to traditional
sources through which data used to be captured large
IJTSRD31016

International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
amounts of data generated every second(emails,twitter
message, videos, sensor data….)
Velocity: the speed of data generated is being
generated, it is phenomenal and never stops the data of
data moving in and out of data management.
Variety: data comes from various sources, machine
generated and people generated different data formats
in terms of structured or unstructured (80%) data.
Veracity: trustworthiness of the data/the quality of
data, as one has little control of the volume.
3.2. Big Data applications
Public sector services.
Healthcare contributions.
Learning services.
Insurance services.
Industrialized and Natural Resources.
Transportation Services.
Banking Sector and Fraud Detection
4. Big Data In Banking Sector
Banking is the life blood of trade, commerce and industry.
Now-days, banking sector acts as the backbone of modern
business. Using big data analytics more no of types of data
are collecting in banking sector like customer’s accounts
data, daily deposits and transactions info, ATM transactions,
net banking data, mobile bankingdata arecomplextohandle
in present day. So using big data analytics, this improves the
modern style of data are stored and managed easily with
more security. Development of any country mainly depends
upon the banking system. A bank is a financial institution
which deals with deposits and advances and other related
services. It receives money from those who want to save in
the form of deposits and it lends money to thosewho needit.
The banking is one of the most essential andimportantparts
of the human life. In current faster lifestyle peoples may not
do proper transitions without developing the proper bank
network. The banking System in India is dominated by
nationalized banks. The performanceofthe bankingsectoris
more closely linked to the economy than perhaps thatofany
other sector.
4.1. Advantages in banking sector with Big data:
A. Sentiment Analytics:-Banks have to continuously
observe what customers say for marketing purpose.
Banks have to identify who are the main customers and
by getting feedback theyhavetoimprovethosecracksto
increase productivity and services.
B. Changes in Service Delivery:-Big Data would possibly
comprise of a huge system, however its job is to change
tasks. Whenever a reputation or account range is
entered into system, it sifts through all the information
and provides solely the desired information. This can
enable banks to contour work processes,andsaveseach
time and prices. Huge knowledge will enable
organizations to spot and rectify, before they have an
effect on their customers.
C. Fraud Detection and Prevention:-This is the main
problem faced by banking sector. Big Data will ensure
that no unauthorized transactions will be made, thus
providing security and safety to the entire system.
D. Enhanced Reporting:-After getting access to huge
amount of data, containing needsofdifferentcustomers,
banks can offer those needs in a meaningful way. By
using this data, banking industrywill provideexactlythe
information required by the customer instead of any
other information.
E. Risk Management:-The early detection of fraud could
be a massive a part of risk management, and large
information will do the maximum amount for risk
management, because it will for fraud identification.
Massive information locates and presents massive
information on one massive scale thatproducesiteasier
to cut back the amount of risks to a manageablenumber.
Massive information plays a polar role in desegregation
the banks needs into a centralized, practical platform.
This reduces the banks possibilities of losing
information, or ignoring fraud.
F. Customer segmentation:-By using this data, targeted
marketing programs can be made. By identifying the
card usage habits of customers, loyalty programscanbe
created. By using this way, relationship will be build up
with valuable customers.
G. Examine customer feedback:-Customers sentiment
can be collected in the text form from various social
media websites. Once these sentiments canbecollected,
they can be classified into positive and negative and by
applying various filters they can be used to provide
services to customers.
H. Detect when a customer is about to leave:-As we
know the cost of acquiring new customers is greater
than retaining its old customers. When the bank takes
care of customers need by understanding the problem,
attention must be given to find a solution.
5. Recent Trends in the Banking System
Electronic Funds Transfer (EFT): It is a system
whereby anyone who wants to make Payments to
another person company etc.
Electronic Clearing Service (ECS): It is a retail
payment system that can be used to Make bulk
payments receipts of a similar nature especially where
each individual payments isofa respective natureandof
relatively small amount.
RTGS system is maintained and operated by RBI and
provides a means of effiecnt and faster funds transfer
among banks facilitating their financial operations.
Automatic Teller Machine (ATM): It is the most
popular devise in India, which enables the customers to
withdraw their money 24 hours a day 7days a week.
Tele - Banking: It facilitates the customer to do entire
non-cash related banking on telephone.
Net Banking: It is done through internet by individuals
and firms for transfer of funds, booking rail tickets,
purchasing share etc.
Mobile Banking: Mobile banking is a service provided
by a bank or other financial institutionthatallowsits,
customers to conduct a range of financial transactions
remotely using mobile device.
6. Conclusion:
Big data analytics is currently being demand across many
domain of banking sector, and helps them deliver higher
services to their customers, each internal and external,
alongside that is additionally serving to them improve on
their active and passive security systems. Using big data
analytics the different form of data are handlingeasily,these
are bank customer’s accounts data, daily deposits and
transactions info, ATM transactions, net banking data,
mobile banking data. This study analyzed transactional and

International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
nostalgic analysis for the Banking Sector. This method helps
to understanding the behaviorofcustomerandplaysa major
role in trust of customer loyalty by improving the good
banking solutions for them.
7. References
[1] QATCH Regulations, Direct Credit and Debit System
Annex No. (153), March 2010
[2] OCBC Bank nets profits with interactive, one-to-one
marketing and service. IBM Software: Smarter
Commerce; July 2012
[3] Business Software themes for 2014. Wells Fargo
Securities. Equity Research; 2014
[4] Utkarsh Srivastava, Santosh Gopalkrishnan, “Impactof
Big Data Analytics on Banking Sector: Learning for
Indian Banks”, Procedia Computer Science 50 (2015)
643 – 652.
[5] “Healthcare System with Big Data Analytics:ASurvey”,
International Journal of Modern ComputerScienceand
Applications (IJMCSA) Volume No.-4, Issue No.-3, May,
2016, ISSN: 2321-2632 (Online)
[6] https://en.wikipedia.org/wiki/Big_data
[7] http://www.pactera.com/resources/bl og/how-big-
data-is-revolutionizing- fraud-detection-in-financial-
services
[8] https://itsvit.com/blog/big-data-analytics-banking-
sector/
[9] en.wikipedia.org /wiki/Big_data
[10] https://en.wikipedia.org/wiki/Banking_in_India

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