The Applications of Big Data Analysis in the Credit Business of Commercial Banks

Abstract

As big data technology becomes more and more mature, its applications in the finance industry become more widespread. Big data technology can address some issues in the traditional credit business in commercial banks and expand the scope of business. This study focuses on the characteristics of big data analysis in the credit business of commercial banks and the corresponding strategies of risk management. To be specific, this paper summarizes current studies on the topic through careful analysis and points out advice for improvement in big data analysis in the credit business. According to the analysis, big data techniques can play a role in target marketing and the development of customized services based on customers’ images. Furthermore, big data applications can significantly reduce manual labor. In addition, big data technology helps in early identification of risks and risk control since banks can know the borrowers better through it. These results shed light on guiding further exploration of implementation big data analysis to bring competitive advantages to commercial banks.