United Savings Bank (USB) is a large bank with branches spanning the United States. They are already collecting information on their customers. They are interested in understanding how they can leverage data and data gathered from other potential sources to provide a competitive advantage in their market.

You have been asked to present to the board a discussion on how big data can provide USB with a strategic advantage by answering the following questions below.

1. How will changes in government regulations affect banking operations and services?

2. What are the implications of economic inequality on the demand for banking products and services?

3. How will changing social norms and expectations affect the way banks interact with their customers?

4. How can banks ensure the security and privacy of customer data in a rapidly changing technological landscape?

5. How can banks encourage sustainable practices among their customers and clients?

6. How can banks ensure they are complying with anti-money laundering laws and regulations to prevent fraud and illegal activities?

Answer rating: 100% (QA)

1Impact of Government Regulations Big data can help USB stay compliant with evolving regulations by ... View the full answer