1. INFINITECH and The Global Financial Sector

By Martín Serrano, NUIG-Insight, Ireland, martin.serrano@insight-centre.org | Bardia Khorsand, NUIG-Insight, Ireland | John Soldatos, INNOV, Cyprus | Ernesto Troiano, GFT, Italy | Juergen Neises, FTSG, Germany | Pavlos Kranas, LXS, Spain | Kostis Perakis, UBI, Greece | Alessandro Mamelli, HPE, Italy | Ignacio Elicegui, ATOS, Spain | Dimosthenis Kyriazis, UPRC, Greece | George Makridis, UPRC, Greece | Gisela Sanchez, FI, France | Marina Cugurra, GFT, Italy

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Published: 03 Jul 2023

© 2023 Martín Serrano | Bardia Khorsand | John Soldatos | Ernesto Troiano | Juergen Neises | Pavlos Kranas | Kostis Perakis | Alessandro Mamelli | Ignacio Elicegui | Dimosthenis Kyriazis | George Makridis | Gisela Sanchez | Marina Cugurra

Abstract

The finance sector is among the most data-savvy and data-intensive of the global economy. The on-going digital transformation of financial organizations, along with their interconnection as part of a global digital finance ecosystem is producing petabytes of structured and unstructured data. The latter represent a significant opportunity for banks, financial institutions, and financial technology firms (Fin- Techs): Leveraging these data financial organizations can significantly improve both their business processes and the quality of their decisions. As a prominent example, modern banks can exploit customer data to anticipate the behaviors of their customers, and to deliver personalized banking solutions to them. Likewise, data can enable new forms of intelligent algorithmic trading and personalized asset management.