Problem
Recall that United Savings Bank collects information in each of the following systems:
a) Core Banking System
b) Online Banking
c) Lending System (Auto/Personal Loans)
d) Credit Card System
e) Mortgage Lending System
f) Insurance Policy System
g) Financial Investment System
A. Create a diagram to show the board how data from these systems could potentially be used to provide a full 360-degree view of a customer. Show how information in each system could potentially overlap (customer names, addresses, etc.)
B. Identify, in a one-page memo, what could cause data challenges for the organization given the different systems collecting information, and explain how creating a centralized repository of the most current customer information could be helpful.
C. Research how financial companies are using big data to prevent fraud, and prepare a one-page memo explaining how one or two strategies could be used and incorporated within USB's existing business systems.