The Big Data Analytics and its Effectiveness on Bank Financial Risk Management

Abstract

The purpose of this study is to gain an understanding of the applications and uses of big data analytics in banking operations as well as the opinions of banking employees regarding the usage of big data analytics to investigate financial crimes. The creation of a great volume of information coming from a variety of channels is a consequence of people being willing to take risks and exchange personal information with one another. This is indicative of the growing plethora of information coming from a multitude of sources, which is a characteristic of the banking industry.The structural questionnaire was employed as a research instrument, and the cross-sectional survey method was used to collect data from 180 banking workers in Bangalore who deal with IT-related job. The study was carried out between the months of July and September 2023, with the convenience sampling method being utilized to pick samples, and descriptive statistics being utilized to carry out analyses on the collected data. The research ultimately arrives to the conclusion that big data analytics is the trend that is advancing at the quickest rate. It is useful for the banks in the management of vast amounts of data. has conducted research into significant problems facing banks that are connected to big data, such as risk assessment, management of creditworthiness, customer assessment, bankruptcy forecasting, prevention of counterfeiting, program plan authority, funding, financial gain, and competitiveness.

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