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22 April 2014

Royal Bank of Scotland maps transaction supply chain

Royal Bank of Scotland (RBS) has built an analytics neural network, capable of assessing risk across its business customers' supply chains. The bank is entering the digital age with the use of data analytics to derive value on banking transactions. In 2013, it created a Customer Solutions Group (CSG), tasked with providing insight to RBS executives and customer engagement teams. CSG has access to data from approximately 1.5 million business customers and sees more than £7bn per day and £1.5tn (US$2.4tn) annual transactions. Alan Grogan, chief analytics officer at Royal Bank of Scotland, said: "We want to use advanced analytics to free up the data." To help customers develop better business strategies, the bank needed more insight into the bigger macroeconomic picture and the behaviour of its clients. He said the analytics would support business banking customers, and help the bank's risk management process. SQL Server Parallel Data warehouse powers RBS analytics To handle multiple terabytes of data and complex queries more ...

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