During the event held on 26 May in Madrid, BBVA Data & Analytics detailed the advantages of being able to capture Data value possessed by the bank
Within the framework of the event organised by DEYDE on 26 May in Madrid, the main theme being “Data Quality: Information as a reliable asset”, several companies were able to share their common experiences: the necessity of assessing a good database for the development of an optimum business strategy.
Effectively, for BBVA Data & Analytics, as the analytical centre of excellence of BBVA and whose mission is to help the entity become a data based digital company (Data Drive), this is a very important business strategy. María Hernández Rubio, Data Scientist at BBVA Data & Analytics admitted that, “being Data-Driven means two things: being capable of taking decisions based on data and being able to construct digital products based on data. Both involve creating a data culture, something we have been working on for some time”.
BBVA D&A provide the bank with a competitive advantage through the analysis of its data which allows it to evaluate the customer with greater precision with the aim of being able to make a better estimation of the risk of this customer when granting a loan or being able to prevent fraud, etc.
Capturing the value of data
In 2015, BBVA D&A, aware of the importance of having centralised and structured data, implemented the MyDataQ solution, a software developed by the technological multinational DEYDE, with the aim of obtaining the value of the data that the bank possesses.
BBVA has a large and very important amount of data on its customers and what it aims to do is centralise and structure these data, extract information and convert it into a reliable asset.
“One very important part of what we can do with the information that we have from these data, is to see precisely what new and improved services we can offer our customers”, confirms María Hernández, a fact that became latent with her speech “Building Innovative Data Products in a Banking Environment” given during the conference.