Banking / Finance

Now, SBI to use big data to beat defaults

06th Dec `13, 05:19 AM in Banking / Finance

State Bank of India (SBI) is working on a project to take advantage of big data to solve…

BDMS
Guest Contributor
 

State Bank of India (SBI) is working on a project to take advantage of big data to solve key issues related to borrowers and predicting defaults.

As country’s largest repository of financial information, SBI is looking at how big data, or analysis of large pool of seemingly unstructured data, can help foresee standard borrowers could turn wilful defaulters, SBI deputy managing director, P K Malhotra told dna.

“Willful default bothers us most and it is an area where we are putting in some kind of technology interventions. It is some kind of data mining, capturing of trends and elements of artificial intelligence,” Malhotra said.

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