By unifying proprietary data with third-party and contextual data sources, customer-centric leaders in financial services can create experiences that meet customers’ needs in real time. Security and privacy concerns often stand in the way of this vision. Fortunately, new edge-of-the-cloud technology is making it easier for banks to safely create shared insights from data, without having to actually share the data itself.
This ability will catalyze the formation of data alliances in which large trust networks of
associated companies work together to cross-promote products and build a valuable ecosystem around customers.