According to Statistics South Africa, the economy shrank by -3.2% in the first quarter of 2019. This ongoing economic downturn has had an impact on many industries, forcing them to relook at the way they do business.
In a recent media release Hayden Sadler, Country Manager at INFINIDAT points out that in the financial services sector in particular, it has become important to minimise the cost of operations. According to Sadler, one of the ways Financial Service Providers (FSPs) are looking to achieve this is through reducing risk. “More accurate customer profiling is key to optimising both cost and risk, which in turn requires access to more data for analysis. FSPs need to adopt intelligent storage platforms to facilitate the enhanced data analytics they require in a cost-effective manner to help them survive in this uncertain time”, Sadler advises.
He further recommends that the answer to FSP storage requirements is an intelligent platform that can consolidate capacity and performance to save costs, breaking down siloes and increasing efficiency for faster time to results. “With all data available all the time, agility can be realised and exposure to risk can be minimised through more effective customer insight and profiling”, he concludes.
Click here to read Sadler’s opinion piece that highlights the comprehensive data analysis that is required for effective risk profiling.
