Iyka dataSpryng (Iyka dS), the only comprehensive data analytics platform capable of analyzing descriptive data, recently caught nearly $130 million in uncollected funds for a global finance-related institution. The platform is one of the keys to finance industry transformation.
According to leading global management consulting firm A.T. Kearney, “In the next decade, we believe that big data will penetrate the financial sector at an increasingly faster rate, setting off a new wave of business revolution. Big data’s potential value here is significant.”
The daily revenue of commercial banks, securities firms, insurance companies, trading organizations, etc. depends on a massive amount of real-time transactions backed up by a large amount of data that supports decision-making. Given this, experts say that Big Data is already disrupting the financial industry.
Iyka President and CEO Poonam Gupta-Krishnan said, “Financial institutions have always collected massive amounts of data. The frustration for them has been the inability to fully leverage that data. It’s like having a fortune locked in a safe. Our analytics platform is the combination to opening that safe.”
Iyka dS can arrange and analyze customer data to allow more personalized solutions. For risk management Iyka dS delivers 100% accurate risk estimation quicker and at a lowest cost than other analytics platforms. All of this means increased business performance, leaner management and a stronger bottom line.
There are many analytics platforms currently in use by the financial sector. The snag is their inability to analyze unstructured/descriptive data—in the form of notes, memos, emails, reports, PDFs, graphics, profiles, etc. What sets Iyka dS apart is its ability to analyze this data in addition to the structured (spreadsheet) data that other platforms are confined to.