LBG/Google Claim Banking Data Analytics First

by Edward O'Brien 0

Lloyds Banking Group has been working with Google on a customer data analytics project. The bank tested the latter’s Big Data platform technologies and analytics on non-personal behavioural data using an account on Google Cloud Platform. Tools included Big Query, Data Flow and Big Table (the openly accessible version of Google’s internal analytics tools Dremel, Map Reduce (Hadoop) and Big Table respectively).

A joint Lloyds and Google team prototyped real-time systems to help inform future customer-focused propositions. They were able to analyse a year’s worth of front-end analytical data in under a minute. The project fits within a wider digital transformation collaboration with Google. As well as the previously mentioned tools, the team is examining the wider market to make sure it has the expertise, knowledge and capabilities to remain at the forefront of this space including machine learning, the application of AI and advanced algorithms.

The rate at which processing speeds for analytics systems continues unabaded. And with such technologies as cloud, in-memory computing, and in-memory databases promising even faster speeds and time-to-market, new innovation can continue even further at a torrid pace. All of which should help accelerate the availability of omnichannal banking its 360-degree view of banking customer data and behaviors.

Overview by Ed O’Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group

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