Big Data, Small Data, Game Changers for Digital Transformation was the Topic of the Keynote Presentation by Mr. Ade Bajomo ED, IT & Operations Access Bank Plc during Nigeria Fintech Week.
Data is all around us.
Driving digital change starts with data.
Data is the new Superpower.
The world presently is centered around data.
The 4th industrial revolutions underline factor is data
The forces powering digital transformation is all around data.
The five most valuable companies in the world; Facebook, Amazon, Microsoft, Google and Apple all generate a great percentage of their sales through data.
Big Data tools are; Azure power, Machine Learning, Visual Studio, Azure Databricks, Azure Data Factory and Azure Data Warehouse.
Top 5 Technological Areas Of Investment are; Data Analytics, Mobile, Artificial Intelligence, cyber-security and Robotics process automation.
The forces powering digital transformation include; Artificial intelligence/ Machine Learning, Internet of things, Robotics Process Automation, Cloud Computing and Social Networking.
We need to be aware of digital risk, Banks have experienced what Risk Revolution. The emergence of the desire to become a digitally-led Institution has exposed Banks to unique challenges and opportunities that accompany digitization. With increasing digitalization, the risk focus is shifting to new areas.
Top Digital Frauds we need to watch out for in Nigeria are; Social Engineering, Third-party, Mobile Banking Internet, Internet Banking, USSD, ATM Withdrawals and POS Web Payment
Today’s financial institutions deploy analytics and data-driven capabilities to increase growth and profitability, to lower costs and improve efficiencies, to drive digital transformation and to support risk and regulatory compliance priorities.
In Conclusion, We need to invest in experiments, invest in people, create a data culture, Realize that good robust value requires time, Governance cannot be ignored and we need to understand Agility is everything.
Trust: The most valuable Business commodity in a digital world
The future belongs to the companies and people that turn data into compelling products
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